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EU ministers agree on hedge fund rules - Spain

Source: Reuters - Tue 18th May 2010

European Union finance ministers have reached broad agreement on the need to impose tighter restrictions on hedge funds and private equity firms, Spain's finance minister said on Tuesday.

"I think there is a general agreement around this," Elena Salgado told reporters as EU finance ministers met to discuss how better to regulate the industry.

"We can basically say that we have the agreement we need to take a general approach (to tighter restrictions)."

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