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Angela Merkel, German chancellor, and Nicolas Sarkozy, president of France, have written to the head of the European Commission calling for tougher controls on financial speculation.
The two page letter to José Manuel Barroso,...
“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”
European consultants predict frantic lobbying during the Mifid review.