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EU lawmakers stall new derivatives rules

Posted on 01 February 2012

European lawmakers and diplomats clashed on Tuesday over new rules to overhaul the $700 trillion derivatives market, threatening to delay one of the centrepieces of European financial reform.
The dispute centres on how much power should be given to an EU agency to oversee derivatives, one of the most opaque areas of finance, and once described as “financial weapons of mass destruction” by billionaire investor Warren Buffett………………………………………..Full Article: Source


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