Here in Germany, the Deutsche Börse continues to be in a state of denial over its Neuer Markt. Though a hard truth to accept, this market is dead and needs to be buried. No shift in the current market and economic reality is going to bring it back to life any time soon. Any attempt to revive it – such as the much-touted rule tightening and Kodex initiative to improve corporate governance – has fallen flat. Nothing in the new regulations addresses the issue of how the policeman polices itself. More importantly, nothing addresses investors’ rights. It’s almost as . . .
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