Merkel Says ‘I Told You So,’ Europe Set To Act

Sep 22 2008 | 9:54am ET

The worldwide market turmoil has one world leader saying, “I told you so.”

German Chancellor Angela Merkel blasted the American and British governments for blocking her efforts to increase controls on worldwide financial markets, especially hedge funds.

“It was said for a long time, ‘Let the markets take care of themselves,’ and that there is ‘no need for more transparency,’” Merkel said at an election rally in Linz, Austria, for that country’s main conservative party. “Today we are a step further because even America and Britain are saying, ‘Yes, we need more transparency, we need better standards for the ratings agencies.’”

The U.S. and Britain stymied Merkel’s efforts to impose worldwide regulation or monitoring of hedge funds during Germany’s presidency of the G8 last year.

Meanwhile, another group of European politicians are working to make Merkel’s dream a reality.

The European Parliament is set to approve legislation that would increase transparency at hedge funds and private equity firms today. In addition to new transparency rules, the proposals would cover manager qualifications, conflicts of interest, hedge fund registration and disclosure of ownership structures.

The legislation has long been championed by Europe’s socialist parties, including the British Labour Party, and has recently won increasing support from the continent’s more free-market-friendly Christian Democrats and liberal parties.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.