Merkel calls for more global financial regulation

Oct 27, 2012, 11:08 PM EDT
German Chancellor Angela Merkel presents her weekly video podcast, October 27, 2012

German Chancellor Angela Merkel called for world leaders to step up international financial markets regulation. In her weekly video podcast, Merkel said that while there has been progress, the rules aren't implemented everywhere and there are gaps, such as non-bank financial institutions. "In my opinion, we're not yet there where we should be," she said. "We had planned to regulate every financial centre, every financial actor, every financial product." Merkel will host the heads of the IMF, World Bank and other global economic organizations in Berlin later this week.