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EU nations override UK on hedge fund rules (AP)

British Chancellor of the Exchequer George Osborne gestures prior to the start of the EU finance ministers meeting at the European Council building in Brussels, Tuesday, May 18, 2010. Eurozone finance ministers have defended the euro as a 'credible' currency, despite its slide to four-year lows against the dollar, as they seek to tame the fears that have gripped financial markets in recent weeks.The eurozone meeting Monday came ahead of a Tuesday session of finance ministers from all 27 European Union members that are set to agree on new rules to regulate hedge funds. (AP Photo/Yves Logghe)AP - European Union governments overrode British objections — and U.S. worries — by agreeing Tuesday to tighten rules for hedge funds, a move some fear will block American funds from the region and cause the lucrative industry to flee London’s financial district.


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