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  1. Wealth
February 23, 2009

New sanctions on tax havens, say EU leaders

By Spear's

EU leaders have agreed to impose new sanctions on ‘uncooperative’ tax havens, and are to draw up a new list of offenders by 2 April.

EU leaders have agreed to impose new sanctions on ‘uncooperative’ tax havens, and are to draw up a new list of offenders by 2 April.

At a meeting in Berlin ahead of the G20 summit in April, European leaders also agreed to impose a comprehensive regulatory framework that covers all financial markets ‘including hedge funds and other private pools of capital.’

The move is being seen as a victory for players including Germany and France, who have long sought to crack down on the sector.

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