Saturday, 2 July 2016
Last updated 8 hours ago
Feb 22 2007 | 10:53am ET
The European Union’s economic and monetary affairs commissioner today threw his support behind the German-led G7 initiative to better understand the risks hedge funds pose to the world financial system.
“I believe it is the right decision to discuss at the EU and global level the potential associated risks,” Joaquin Almunia told a financial conference in Brussels.
His counterpart, EU Financial Services Commissioner Charlie McCreevy—under whose purview hedge funds actually fall—has to date refrained from siding with the Germans, arguing there’s no need for “heavy-handed regulation.”