Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-422-750"

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"en.20110705.34.2-422-750"2
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"This regulation aims to establish emergency measures to restrict or prohibit the short selling of some or all securities. The Commission and Parliament are attempting to create a regulation, which is the same for all Member States, that confronts, in a harmonised way, the potential risks resulting from short selling and credit default swaps. However, this initiative does not change the essential facts. The fundamental issue remains the same. Specifically, this short selling instrument has not been eliminated as it should have been. This was essential in order to put an end to this kind of highly speculative financial operation. It is well known that at the height of the financial crisis, in September 2008, the short selling of some or all securities was prohibited in some countries. In several Member States it was, at the very least, restricted through security measures. There was a fear that short selling could worsen the vicious cycle of reducing share prices, particularly the share prices of financial institutions, thus creating systemic risks. Now all of this appears to have been forgotten."@en1

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