Sarkozy, Merkel See Regulation as Top G-20 Priority - by Francois de Beaupuy and Rainer Buergin
German Chancellor Angela Merkel and French President Nicolas Sarkozy said the Group of 20 rich and developing nations meeting in London on April 2 must agree on a new “global financial architecture” as its top priority. In a joint letter released by the offices of both leaders today, Merkel and Sarkozy also said that European Union heads of state and government holding a March 19-20 summit must press for all hedge funds and other funds that may create “systemic risks” to be registered, regulated and supervised. “We are deeply convinced that we must use this unique, historic chance to fight the causes of this global crisis,” Merkel and Sarkozy said in the letter addressed to European Commission President Jose Manuel Barroso and Czech Prime Minister Mirek Topolanek, whose country holds the EU’s six-month rotating presidency.
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