Tuesday, 7 October 2008

Who called for what transparency?

Maybe someone can help me out on this

In September 2007 it was reported

German Chancellor Merkel and French President Sarkozy on Monday called for a European push for more transparency on financial markets following recent turbulence.

"It is our common wish ... that we get more transparency in financial markets," Chancellor Angela Merkel said after a regular informal meeting with French President Nicolas Sarkozy at a government guest house north of Berlin.

Now it is reported that Gordon Brown blocked these attempts.

German Chancellor Angela Merkel accused Saturday the United States and Britain of blocking her government's previous efforts to tighten the controls of financial markets.

This has now been confirmed by the German Ambassador on Newsnight.

At the Labour party conference Gordon Brown was asked in a SKY news interview with Adam Boulton about this. Watch it here.

AB - Is it not true that Angela Merkel pushed for greater transparency of markets and you resisted them.

GB - No No we wrote the paper calling for the transparency of hedge funds you are completely wrong.

So who is not telling the truth? Merkel and the German Ambassador or Gordon Brown. I know who my money would be on.

1 comment:

Obnoxio The Clown said...

Neither? They're both politicians, you know.