Germany Spies Hedge Funds

Germany Spies Hedge Funds

Germany Deploy Its Spies to Investigate Hedge Funds

Germany's finance minister made an odd announcement: his country may deploy its spies to gather intelligence on hedge funds.  The use of intelligence agencies, he said, would be to protect the euro from short-selling hedge fund traders.  The euro has been hurt by the debt crisis in Greece and as a result of short-selling by investment firms including hedge funds. 

Germany may deploy its spies to gather information about hedge funds and other currency speculators, its finance minister said.
Wolfgang Schaeuble told the German Parliament on Tuesday that the country may direct “intelligence agencies to set up surveillance of who is getting together with whom for which kinds of speculative processes,” Bloomberg News reports.
“I find it sinister and silly,” the Centre for European Reform’s Philip Whyte told Bloomberg. “It is a complete overreaction. There is a certain school of thought in continental Europe that everything is always the fault of hedge funds.”
“Hedge funds are very nice targets because they are particularly based in London and New York,” Jacob Schmidt of hedge fund advisory Schmidt Research Partners said. “He is not going to say this about German banks.”  Source

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