France is not against foreign hedge funds operating in Europe, contrary to US charges, but wants them to be regulated, preferably via a European-wide body, a French document showed on Money. In a letter to US Treasury Secretary Tim Geithner, French Economy Minister
Christine Lagarde said that France was not taking a protectionist stance on one of the important regulatory reforms sought after the global financial crisis.
Rather, France believed that such non-European, offshore funds should have the same access to the European market as before, Lagarde said in a letter addressed to Geithner on Friday.
But with negotiations on their access to the market "entering a decisive phase," according to Lagarde, the issue now turns on how they will be regulated.
For more: France wants non-EU funds fully regulated: Lagarde letter < French news | Expatica France
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