Merkel surprised at warnings against regulation

[FarCenter]

BERLIN (AP): _ German Chancellor Angela Merkel said Friday she is ``somewhat surprised'' to hear warnings against too much regulation of financial markets before the global crisis has even been fully tamed. Merkel spoke before leaving for a financial summit of world leaders in Washington and after warnings from U.S. President George W. Bush, the summit host, against excessive controls.

Bush said the global economy should not be crushed under a raft of strict new financial regulations.

Merkel did not refer directly to Bush's comments, but responded sharply when asked what she made of warnings against too many controls. ``I must say I am somewhat surprised that these warning calls are already coming so shortly after the crisis broke out _ we have not yet overcome it,'' she told reporters.

Merkel said her government will be ``very happy'' to give up state ownership in banks _ referring to a rescue package worth up to 500 billion euros ($625 billion) drawn up by her government which is injecting fresh capital into troubled banks by taking stakes in them. But she said Germany ``will do everything to ensure that there are more rules to prevent such a situation occurring again.''

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http://www.hinduonnet.com/thehindu/holnus/006200811150313.htm

[FKA MNChimpH8R]

1. More proof that European "conservatives"

would be moderate to center-left Democrats in American politics. But then Angela Merkel is a responsible adult, unlike 98% of the Repig party.