Ads
May 03, 2005
Germans want more Hedge Fund transparency-G8
The German Chancellor Schroeder is determined to bring up the question of harmonizing the rules for more transparency and tighter controls on hedge funds, at the G8 summit this week. The G 8 summit is being held at Gleneagles Scotland between July 6th to 8th. Worried by lackluster opinion polls at home Schroeder whose SDP party will be facing elections in autumn will make a plea for more transparency in hedge fund transaction rules. Trying to emphasize its commitment to a 'social market economy' by taking a stand against all excessive forms of capitalism the SDP is keen to reduce voter dissatisfaction and stay in power. Frustrating and painful welfare cuts have seen erosion in popular support and the SDP wants to be seen to be doing something about it. That Berline was not totally against the market is evident as it was a social democrat government that first introduced hedge funds in Germany. Even so Schroeder and his cabinet would like the G8 to debate on the issue of tighter controls, without making it a priority issue. There will, apparently, also be no statement made. Reuters reports:
"The position of the Chancellor will go in the direction that we also want more transparency here," also that "We don't think that hedge funds are something evil," Pfaffenbach said, but added hedge funds would not be a priority issue at the summit due to be held at Gleneagles, Scotland between July 6-8.
Read More: G8 to skip statement on hedge funds
--
Did you enjoy this post?
Comments
Post a comment
Syndicate
Comments