Berlin means business. In addition to pushing for increased regulation of hedge funds and of the financial markets, Chancellor Angela Merkel’s government has drafted a list of proposals to revamp the European common currency. From suspending voting rights to national bankruptcy proceedings, the plan is far-reaching.The offensive now seems to have started in earnest. On Tuesday, European Union finance ministers announced efforts to both rein in hedge funds operating in Europe and to introduce a tax on financial transactions. Overnight, the German financial services regulator BaFin slapped a ban on certain types of short selling.
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