Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-09-Speech-2-250"

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"en.20100309.21.2-250"2
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"As I said earlier, the basic problem regarding Greece – and it is important to say this – comes from excessive debt. It is true that probably there were also speculative attacks, but that is because they saw an opportunity there. Now we have to support Greece, and Greece has now announced very important measures. We fully support those measures. At the same time, we have to look to the broader issue. I already said that we will examine closely the relevance of banning purely speculative ‘naked’ sales on credit default swaps on sovereign debt. The question of transparency between regulators – particularly on access to information on these practices – should also be raised in the G20 and in other fora and bilaterally. Last Friday, Commissioner Barnier organised a meeting in Brussels with the national regulators precisely to find out what we know about the action of some of these speculators against sovereign debt. We need to proceed with an in-depth analysis of credit default swaps markets so as to determine better how these markets function and if they are the subject of questionable practices. If needed, the Commission will also use its competition powers in that matter."@en1
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2http://purl.org/linkedpolitics/rdf/Events_and_structure.ttl.gz

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