EU hedge fund curbs delayed after the intervention of Gordon Brown

Telegraph – The ECOFIN gathering of finance ministers from the 27 EU states had been due to debate the Alternative Investment Fund Managers (AIFM) directive but it was removed from discussion. Instead, it will now be tabled at next month’s G20 Summit to stave off growing criticism that proposed new rules are protectionist and contravene G20 agreement.

The action followed a call by the Prime Minister on Monday night to his Spanish counterpart Jose Luis Rodriguez Zapatero, whose country holds the EU presidency, insisting Britain would not accept a compromise plan.

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