Germany’s chancellor stresses need for better regulation of financial markets

Merkel calls for better financial regulation

BERLIN — German Chancellor Angela Merkel is stressing the need for a better regulation of international financial markets, saying there is still “too much speculation going on” as exemplified by the financial crisis in Greece.

Merkel said in her weekly video podcast Saturday that Germany had “asked the European Commission to make suggestions to prohibit such speculation.”

The chancellor also highlighted the importance of international financial institutions like the IMF and the World Bank in creating more efficient rulings and called on them to help create a “ecologically and socially compatible” growth in times of globalism.

Greece said Friday it would ask for a joint euro zone-International Monetary Fund financial rescue — a move that has the German public concerned that their tax money is going to bail out another country.