Special Report: Global Financial Crisis

BERLIN, Feb. 21 (Xinhua) -- German Chancellor Angela Merkel on Saturday called for more rules to strengthen regulation of financial markets.

"There should be no more blank spots in the world regarding financial products, participants of the market and instruments," said Merkel in her weekly podcast posted before a EU meeting on financial crisis.

Leaders from Britain, France, Italy, Luxembourg, the Netherlands, Spain and current EU president Czech Republic will gather in Berlin on Sunday to discuss a common European position ahead of an April summit of the Group of 20 nations in London.

"We will decide on Sunday preparatory measures that will allow us to speak with a united and demanding voice in London," Merkel said.

Among measures to be pushed by the German government is the proposal of a global "risk atlas" that would give early warning of financial risks which would make early intervention possible.

Moreover, Berlin also wanted to strengthen regulation of hedge funds and improve the work of credit rating agencies, Merkel said.
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