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4 Jun 2014
Merkel calls for stricter rules on shadow banking
FXStreet (Łódź) - Speaking at the Bundestag on Wednesday German Chancellor Angela Merkel urged G20 countries to increase the regulation of financial markets, especially of the shadow banking system.
Merkel acknowledged the improvement of global growth prospects, but stressed that there was still a lot to be done and that “strong sustainable and balanced economic growth is only possible with necessary structural reforms and solid budget consolidation.” She added that energy security would be the main topic discussed at the G7 meeting which starts today.
The German Chancellor also supported the candidacy of Jean-Claude Juncker for the next president of the European Commission.
Merkel acknowledged the improvement of global growth prospects, but stressed that there was still a lot to be done and that “strong sustainable and balanced economic growth is only possible with necessary structural reforms and solid budget consolidation.” She added that energy security would be the main topic discussed at the G7 meeting which starts today.
The German Chancellor also supported the candidacy of Jean-Claude Juncker for the next president of the European Commission.