European leaders have agreed in Berlin on the need to regulate all financial markets including hedge funds, according to Reuters.
"All financial markets, products and participants must be subject to appropriate oversight," said a statement obtained by the news agency.
This is especially true of private pools of capital, such as hedge funds that "may present a systemic risk".
The news comes as leaders from Europe's biggest economies meet in Berlin.Please visit the link provided for the complete story.
This seems eminently sensible if it means oversight that can help combat fraud and, shall we say, 'convenient' methods of accounting.
But are Germany and France perhaps pushing for excessive state intervention/control?
Germany's finance ministry is pushing for stricter rules for hedge funds and better rating systems to avoid future meltdowns.
However some members - such as Britain - are less keen on a radical tightening of regulations, correspondents say.
Mr Sarkozy stressed he would not accept "a weak compromise, a cheap fix" in establishing the European position.
"Capitalism must be given new moral foundations," he said.
Past evidence suggests Sarkozy is on board the NWO agenda. Do we need to read between the lines here, perhaps?
To see where I'm coming from, please refer to Rockpuck's first post in this thread
in particular, as follows:
.....We want to secure Capitalism ...
By having World governments control it directly......
Is the definition of Corporate Fascism.....
If we can bear in mind what has gone before we can begin to join the dots. Specific current events do not occur in isolation.
Do you see this move by the EU leaders as a significant step in a particular (agenda-based) direction?
Would anyone go as far as to say the deregulation of the markets was designed
to invite widespread malpractice and thus bring about an
...All with the goal of justifying very tight control of market activity, such that it could be brought under a single, global umbrella?
Perhaps this goes too far. But one thing is for certain. Bilderberg and the G20 are not aimless tea parties.
[edit on 22/2/09 by pause4thought]