Strengthening regulation of financial markets is necessary to reduce risks, ECB policymaker Christian Noyer said on Saturday, in a speech entitled “The end of the dictatorship of finance”. Noyer, who has in the past turned up the heat on London’s role as Europe’s finance hub, criticized accounting rules which he said fuelled “short-termism” and said the opaque nature of some parts of the markets had fuelled the financial crisis.
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