NEWS

BBC reports (May 16) that “European finance ministers are preparing to meet [on Tuesday] o vote on a controversial new directive regulating hedge funds and venture capitalists. :

“Spain currently holds the EU presidency, and its finance minister Elena Salgado told the FT that other finance ministers would not agree to a delay. ‘There is a very clear majority of countries that want to approve it,’ she said.”

This document outlines support for the Presidency’s March 11 compromise proposal:

http://register.consilium.europa.eu/pdf/en/10/st09/st09694.en10.pdf

The March 11 compromise proposal is available at:

http://register.consilium.europa.eu/pdf/en/10/st07/st07377.en10.pdf

The Spanish Presidency’s summary of the March 11 compromise is available at:

http://register.consilium.europa.eu/pdf/en/10/st07/st07378.en10.pdf