Boost for Germany's financial role

GERMANY - Recent reforms to modernise regulation of Germany's financial markets are likely to strengthen the country's position as an international financial centre, even though the government had to compromise on its proposals.

Germany's three regulatory bodies responsible for supervising the banking, insurance and securities markets are to be merged into one umbrella agency, to be launched on 1 May.

In addition, the management structure of the Bundesbank, Germany's central bank, is to be stre

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