Forbes – The German government, which wants to make hedge funds a key issue during its upcoming presidency of G8 next year, has secured the support the US and Britain, according to a report inbusiness daily Handelsblatt.
German Finance Minister Peer Steinbrueck has persuaded his US and British counterparts, Henry Paulson and Gordon Brown, to support an initiative for greater control of hedge funds during the German G8 presidency, the newspaper quoted a source close to Steinbrueck as saying.
‘With the agreement of two of the most important financial market countries, the likelihood has increased that concrete decisions will be made,’ the source was quoted as saying.
In the past, both Washington and London had rejected the move for greater transparency among hedge funds.
