"Hunt down speculators," announces the Libération front-page headline. Reporting on the trend for more stringent regulation of financial markets, the French daily presents a portrait gallery of financial "predators," including the "master of them all," George Soros. Hedge fund managers who have a mind to profit on the back of countries and their currencies are now under fire from governments on both sides of the Atlantic, explains the newspaper. In the United States, the Department of Justice has launched an inquiry to see if several hedge funds collaborated in February to undermine the value of the euro. European countries also want more monitoring and control of speculators "who generally prefer to keep their activities secret." The chief of the French Financial Markets Authority (AMF), Jean-Pierre Jouyet, "has repeatedly called for stricter controls. In Germany, the Merkel government is in the process of preparing a law to regulate short selling, a technique commonly used by the hedge funds." In April, the European Parliament will vote on bill to impose tighter regulations on the activities of non-European funds in Europe's markets.
Was this article useful? If so we are delighted!
It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.
Discover our subscription offers and their exclusive benefits and become a member of our community now!