Speaking at the Council of British Chambers of Commerce in Continental Europe in London, Commissioner McCreevy called for an open Europe and reminded on the ongoing dialogues with the US, Japan and China, and Russia and India. “These dialogues have the potential for wider, global cooperation, notably in financial services”, he said.
With regard to Sovereign Wealth Funds McCreevy reiterated that “we do not need any new rules for that. Member States are perfectly able to protect sectors on grounds of legitimate national security concerns, and we must not allow the discussion on Sovereign Wealth Funds to be used as an excuse to raise unjustified barriers to investment and the free movement of capital.”
Full speech
© Graham Bishop
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