Financial Regulatory Forum

City of London, U.S. lobbies are fighting market regulation – Germany

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS) BERLIN, Sept 23 (Reuters) – The City of London is doing its best to block the introduction of stricter financial market regulations, but tougher rules will come, German Finance Minister Peer Steinbrueck said a day before a Group of 20 summit.

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German minister urges G20 to soon reduce use of stimulus measures

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.  BERLIN, Aug. 31 (Reuters) German Finance Minister Peer Steinbrueck urged colleagues from other G20 nations as soon as possible to start reducing fiscal measures used to tackle the global financial crisis.

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Germany, France want tougher bank bonus rules at G20

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS) BERLIN, Aug 26 (Reuters) – Germany and France want G20 nations to reach an agreement on tougher rules governing bonus payments in the financial sector, German Finance Minister Peer Steinbrueck said in an interview published on Wednesday.

“We need international agreement here as well,” the Handelsblatt newspaper quoted Steinbrueck as saying with regard to the Group of 20 meeting of finance ministers hosted by Britain next week.

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German minister accuses Britain of hindering market reforms

German Finance Minister Peer Steinbrueck

By Matthias Sobolewski
BERLIN (Reuters) РGerman Finance Minister Peer Steinbrueck accused Britain on Wednesday of hindering efforts to reform global financial markets because it is too eager to pander to the City of London. While the U.S. administration was now interested in reforming financial markets, London was resisting change, said Steinbrueck, who last year sparked a diplomatic spat with Britain by criticising its economic stimulus plan.

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