Speaking in Austria on Saturday, Sept 20, Merkel said her government had tried in vain to win G8 support last year for tighter regulation of hedge funds and financial oversight of capital markets, hinting that she felt vindicated in her stance as a financial disaster unfolded on Wall Street in recent days. "It was said for a long time 'Let the markets take care of themselves' and that there is 'no need for more transparency'," Merkel said at a rally in Linz, where she was campaigning on behalf of the Austrian conservative People's Party (OeVP). "Today we are a step further because even America and Britain are saying 'Yes, we need more transparency, we need better standards for the ratings agencies'," Merkel said.
Speaking in Austria on Saturday, Sept 20, Merkel said her government had tried in vain to win G8 support last year for tighter regulation of hedge funds and financial oversight of capital markets, hinting that she felt vindicated in her stance as a financial disaster unfolded on Wall Street in recent days.
"It was said for a long time 'Let the markets take care of themselves' and that there is 'no need for more transparency'," Merkel said at a rally in Linz, where she was campaigning on behalf of the Austrian conservative People's Party (OeVP).
"Today we are a step further because even America and Britain are saying 'Yes, we need more transparency, we need better standards for the ratings agencies'," Merkel said.
Beim Geld hört die Freundschaft auf. That was all the time that way. USA and Europe were battling over economic issues always, without that that this would effect security issues, like the 'war on terror'. So, when you hope for serious opposition let's say with regard to Afghanistan, Russia, or Iran, you should dampen your expectation. Der Amerikaner ist die Orchidee unter den MenschenVolker Pispers
In my impression, when speaking of German governments rather than the EU, what you say applied to 'specific' 'money issues' like the VW Law (which, again, don't add up to policy). Even at EU level, despite the Banana Wars and other struggles, the EU line on the WTO was more or less in line with the US one. As for German governments on other international fora, by and large, you barely saw them sticking to separate positions before 2002 and after 2005. For example, not much came out of Merkel's 'Green' drive at the G8 meeting a year ago - though that experience may have taught Merkel something, like the initial altercations with Bush for Schröder. *Lunatic*, n. One whose delusions are out of fashion.
