EU leaders seek finance oversight

The European chiefs agreed in Berlin on the need for regulating all the financial markets including/understanding of the funds of cover, according to Reuters.

All the financial markets, of the products and the participants must be prone to adapted inadvertency, said a report/ratio obtained by the news agency.

It is particularly true private pools of the capital, such as the funds of cover that can present at the systemic risk .

The news comes as chiefs of Europe 'savings in S larger meet in Berlin.

Funds of cover, which attract the rich private investors typically, were criticized by their lack of transparency and inadvertency.

The chiefs French, Italian, Spanish, Dutch, BRITISH and German hope to adopt an approach common to a financial top of the world in London in six weeks 'time.

But the analysts say that concluding the agreement among powers from EU are not easy.

Some members differ on new payments for the financial markets. There also were dissensions above the trade, with charges of protectionism.

Sector of car

The current Czech presidency of the EU, as well as and of the European commission, expressed the concern with the attempts by France, Italy and Spain to shelter their auto industries of the effects of the reduction.

The BBC the 's Rob Cameron in Berlin indicates that Czech the Prime Minister Mirek Topolanek - who is also in Berlin - will hold a meeting deprived with French President Nicholas Sarkozy, according to a very public line between the two countries.

Mr. Sarkozy proposed that in order to fix the governmental assistance, the French car manufacturers should move the production out of their factories of Eastern Europe and again France.

Such dissensions threaten to prevent Europe speaking with one voice, our correspondent is added.

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In front of Berlin meeting the German chancellor Angela Merkel replaced it calls for a tighter inadvertency of the financial markets.

There should not be more gaps in international orders, it said Saturday.

Germany 'the ministry of finances of S pushes more strict rules so that funds of cover and better systems of estimate avoid future fusions.

However some members - such as Great Britain - are less sharp on a radical tightening of the payments, the correspondents say.

Mr. Sarkozy subjected it to a constraint not to accept compromised weak, a cheap difficulty by establishing the European position.

Capitalisme must be given new bases morals that, it said.

The day order of the Summit of Berlin also includes to reinforce international standards of accountancy, reforms of the IMF and other institutions financial, as well as of the movements to limit the executive wages.

The meeting of London in April will gather chiefs of the G20 group of the developed commander and economies to develop, in an effort of r�crire the rules of the total financial system.