Europe starts its budget conference, launching two years of debate as the EU reels under an economic crisis. And more of the day's headlines from Brussels.
Post-midterms, MEPs took stock of the transatlantic alliance. Hedge Fund supervision is causing controversy and the Parliament will get a new visitor's centre.
Socialist MEP Robert Goebbels says the new supervision laws will end asset stripping, cap astronomical bonuses, and require hedge funds to explain their investment strategy.
That is the ambitious aim of Europe’s new laws to supervise hedge funds. But the new regulations, which will come into force in 2012, already have their detractors.