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European finmins agree on hedge fund regulation

Date: Monday, February 23, 2009
Author: UK.Reuters.com

European finance ministers meeting in Berlin on Sunday agreed on the direct regulation of hedge funds, a German government source said.

The source said "the call for direct regulation of hedge funds was no longer questioned by any participant".

The ministers were meeting to prepare a common stance on overhauling global financial rules ahead of a broader summit of G20 nations in London on April 2. (Writing by Paul Carrel)