BERLIN (AFP) — Washington and Berlin are going "in the same direction" ahead of next week's G20 summit, a spokesman for Chancellor Angela Merkel said Friday amid reports of rifts between Europe and the United States.
There are "no points of contention here between us and the US government. For both of us, and our position has been made clear for some time, regulation of financial markets is the focus of the meeting," the spokesman said after Merkel and US President Barack Obama held a video conference on Thursday.
"The proposals that (US Treasury Secretary) Timothy Geithner has put on the table when it comes to regulation of certain players -- hedge funds and others -- show that we are proceeding together in the same direction," spokesman Ulrich Wilhelm told a regular press briefing.
In Obama's first trip to Europe since being elected, the Group of 20 summit on April 2 -- which brings together major industrialised and developing nations -- takes place against the backdrop of the worst financial crisis in decades.
European countries are keen to see the summit sign off sweeping changes to rules governing how global financial markets operate.
Former US president George W. Bush's administration -- and Britain -- were seen as less keen on tightening the rules but Geithner on Thursday unveiled far-reaching new proposals that he said the rest of the world now had to match.
The United Stats has also called on Europe to increase economic stimulus plans -- calls that have so far been rejected by France, Germany and others.
Obama and Merkel also discussed in their conference next week's NATO summit taking place in France and Germany on April 3-4 and an informal EU-US summit in Prague on April 5, as well as the situation surrounding stricken US automaker General Motors and its German unit Opel, her spokesman said.
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