News

In a letter to the President of the European Commission José Manuel Barroso, prominent members of the Party of European Socialists express their indignation over what they see as McCreevy's attempt to avoid implementing the demands of the European Parliament for regulation covering all financial players, including hedge funds and private equity.

They recall that the commissioner had already launched a consultation on the topic two years ago, which came to nothing. In the letter, they refer to McCreevy as "a paid lobbyist of the finance industry". The letter, available below, was signed by Poul Nyrup Rasmussen, President of the Party of European Socialists, Martin Schultz, President of the Socialist Group in the European Parliament, and Pervenche Berès, Chairwoman of the Committee of Economic and Monetary Affairs. Details about the consultation can be found here.