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Germany France Hedge Funds

Germany France Hedge Funds

Germany and France Look to Regulate Hedge Funds, Swaps

Greece's debt crisis is bolstering Germany and France's efforts to regulate hedge funds and credit-default swaps.  The troubles in Greece has brought down the euro, and those in the EU pushing for tougher regulations of the financial industry are making a coorelation between troubles in that country and hedge fund trading and credit-default swaps.  Leaders in the two largest European economies, Germany and France, are expected to take stronger positions on reforming the financial system.
“We can draw some lessons from this crisis,” French Finance Minister Christine Lagarde told lawmakers in Paris on Feb. 17...“We should examine the suitability of CDSs” used for sovereign states because their movements have become “disconnected from the underlying” economic situation.
Germany’s Finance Ministry said it couldn’t confirm a report in Handelsblatt newspaper that Chancellor Angela Merkel’s government plans to clamp down on hedge funds to curtail speculation against the euro.
Germany and France, the euro area’s two biggest economies, are already working on an overhaul of banking laws as part of a regulatory push agreed by Group of 20 governments after they were forced to bail out banks worldwide.  
France is leading the push on credit-default swaps, a form of insurance that can result in profits for holders if a borrower cannot repay debts. Source

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