Europe vs. the Financial Markets How Serious Is the EU about Regulation?

The European Union on Tuesday agreed on an array of measures in an attempt to rein in financial markets, including a tax on financial transactions and regulations on hedge funds. Whether the measures will ever go into effect, however, remains unclear. Much may depend on Germany -- and political commitment is tepid at best.
German Finance Minister Wolfgang Schäuble made it clear that he's no fan of a financial transaction tax, even though his government supports it.

German Finance Minister Wolfgang Schäuble made it clear that he's no fan of a financial transaction tax, even though his government supports it.

Foto: JOHN THYS/ AFP
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