Extracts from the statement by José Manuel Barroso on hedge funds
The European Commission has presented a proposal of regulation on hedge funds and private equity.
José Manuel Barroso, President of the EC, said that it is important to take the initiative in the regulation of financial markets and added that this proposal would tackle systemic risks created by a lack of transparency and excessive leverage and risk taking. He also said that Europe has taken the lead in that global response and hoped that others would follow at international level. SHOTLIST