EU finance ministers warned about systemic risk dangers

European finance ministers received a clear warning from their own central bankers about the potential systemic risks posed by hedge funds and credit derivatives during a meeting in Vienna on April 7 and 8.

The report, put together by central bankers and deputy finance ministers for the Informal Economic and Financial Affairs Council (Ecofin), a group made up of finance ministers from the European Union's 25 member states, asserted that "hedge funds can contribute to market efficiency and sha