Former IMF head has called for stricter regulation to put the global financial market ‘monster’ back in its place
In what has been described as the toughest comments by a leading European politician since the start of the subprime crisis, Horst Köhler, the German president and former head of the International Monetary Fund (IMF), yesterday slammed global financial markets as “a monster” which “must be put back in its place”.
Köhler said in an interview with the German Stern magazine, to be published today, world financial markets had come close to “a collapse” and called for greater regulation in the wake of the subprime mess, according to the Financial Times.
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