hypocritexposer
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BERLIN — European leaders backed sweeping new regulations for financial markets and hedge funds at a summit Sunday in Berlin as politicians and countries scrambled to tame the global economic crisis.
German Chancellor Angela Merkel hosted heads of state and finance ministers from Europe’s largest economies to try to establish a common European position on economic reforms before an April 2 summit in London of the Group of 20 countries.
“All financial markets, products and participants including hedge funds and other private pools of capital which may pose a systematic risk must be subjected to appropriate oversight or regulation,” Merkel said in a statement released on behalf of the summit members, following the talks.
Top officials from Britain, France, Germany, Italy, Luxembourg, Spain, the Netherlands and Czech Republic agreed on seven key points during their one-day meeting in Berlin, the statement said.
By THE ASSOCIATED PRESS
http://www.edmontonsun.com/News/World/2009/02/22/8488616.html