EU Leaders agree to financial reform

| 23/02/2009

(Washington Post): European leaders on Sunday pledged to establish global oversight of hedge funds, crack down on tax havens and beef up other rules as part of a reformation of the international monetary system. Leaders from 8 European countries, meeting in Berlin, said they had agreed on broad principles for bolstering the regulation of global finance in advance of a summit of the world’s leading powers April 2 in London. "A clear message and concrete action are necessary to engender new confidence in the markets and to put the world back on a path toward more growth and employment," said German Chancellor Angela Merkel, who hosted the meeting. Go to article

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  1. Tim Ridley says:

    There is indeed much to be wary about and much to be done. We can come through all this and continue to flourish as a financial services centre but we need to change our approach and delivery.

  2. Anonymous says:

    I hope Caymanians see who’s in the picture. Read this and take warning.

    When I say that the current investigations are fishy and looks like its targeting Cayman’s standing in the world with its financial center. Some people brust me off and say oh no thats foolish. Lets hope the UK’s agreement to “crack down on tax havens”, tell us ALL something.

    People wake up.