Merkel says lack of hedge fund regulation a scandal

Date: Friday, May 7, 2010
Author: Reuters

It is a "scandal" that hedge funds are not regulated, but rules to oversee them should come in three weeks, German Chancellor Angela Merkel said on Thursday.

In a speech in Berlin, Merkel did not give further details on where the rules would emerge, but blamed Britain for thwarting previous efforts at regulating hedge funds.

Merkel added that speculation against Portugal was exaggerated and said it was time to give European Union institutions greater scope to look into national budgets.