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OTTAWA -- Setting the stage for political conflict with the United States and Canada, Europe has united around the idea of draping the global financial system in a regulatory blanket that would result in greater scrutiny of hedge funds, tax havens and the complex securities at the heart of the financial crisis.
At a meeting in Berlin yesterday, the leaders of the European Union's most influential nations agreed on a seven-point plan that will put them at odds with the United States and Canada, with their preference for milder regulation.
German Chancellor Angela Merkel and her counterparts from Britain, France, …
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