http://www.openeurope.org.ukThe latest daily press summaries from Open Europe(c) 2010 Open Europe. All rights reserved.5The FT reports that Gordon Brown and French President Nicolas Sarkozy will today try to hammer out a compromise deal on the EU’s AIFM Directive, aimed at regulating hedge fund and private equity managers. Brown shares the concerns of Tim Geithner, US Treasury Secretary – raised in a letter to EU Internal Market Commissioner Michel Barnier earlier in the week – about the protectionist elements of the Directive, which would severely restrict access to the EU market for offshore funds and managers.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105712 March 2010Handelsblatt notes that European finance ministers are expected to agree a draft of the EU’s proposed AIFM Directive, aimed at regulating hedge fund and private equity managers, next Tuesday. The article notes that “even the British government…has given up its blockade.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105611 March 2010The FT reports that German Bundesbank President Axel Weber has said that proposals, announced by the German Finance Ministry and backed by Chancellor Angela Merkel, for the creation of a European Monetary Fund (EMF) are “not helpful” and are “a sideshow that will distract from the necessary consolidation” of budget deficits in struggling countries such as Greece.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105510 March 2010 German Chancellor Angela Merkel has backed plans for an IMF-style European Monetary Fund to bailout struggling countries, but warned that establishing such a fund would require EU treaty change and the agreement of all 27 member states. “I find the idea good and interesting”, Merkel said, according to EUobserver.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105409 March 2010The Weekend FT reported that, following her meeting with Greek PM George Papandreou on Friday, German Chancellor Angela Merkel pledged to do “everything in order to stabilise the euro, our common currency”, but stopped short of making any financial commitment to support Greece.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105308 March 2010PA reports that the Government last night pledged to block European Commission plans for a mandatory minimum tax rate on carbon across the EU. The front page of the Telegraph reports that Algirdas Semeta, the new European Commissioner for Taxation has said that an EU carbon tax is a "priority" for him and indicated that he might table a concrete proposal as early as next month.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105105 March 2010Europe Commission to table proposal for EU-wide €10 per tonne carbon tax European Voice reports that the new European Commissioner for Taxation, Algirdas Šemeta, is planning to propose a minimum rate of tax on carbon across the whole of the EU. The move, which was considered too controversial by the first Barroso commission, would mean that carbon tax is calculated according to the energy content of certain energy sources such as petrol, coal and natural gas, and the quantity of CO2 they emit.http://www.openeurope.org.uk/media-centre/summary.aspx?id=105004 March 2010In a Reuters poll of 47 economists, respondents estimated there to be median 55 percent chance of Greece seeking a bailout from the EU or International Monetary Fund this year. That was up from 30 percent as measured by a poll of foreign exchange strategists last month.http://www.openeurope.org.uk/media-centre/summary.aspx?id=104903 March 2010Handelsblatt reports that German Chancellor Angela Merkel yesterday rejected a call from Spanish PM Jose Luis Zapatero for “EU-solidarity” for Greece. She also warned that the euro would not be stable without radical cuts in the budget deficits of member states: “Only if the financial markets evaluate that Greece can handle the reforms, will the euro be able to become stable again”.http://www.openeurope.org.uk/media-centre/summary.aspx?id=104802 March 2010The Telegraph reports that German Chancellor Angela Merkel has denied claims by other EU politicians that Germany has agreed to a bailout package for Greece. Reports over the weekend have speculated that Paris and Berlin are finalising a package that would see German government-owned bank KfW and French government-owned bank Caisse des Depots purchase around half a €30bn bond issue, with the other half going to private Euro debt investors.http://www.openeurope.org.uk/media-centre/summary.aspx?id=104701 March 2010