Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-423-000"

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"en.20110705.34.2-423-000"2
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"Although this regulation attempts to establish emergency measures to restrict or prohibit the short selling of some or all securities, the essential, fundamental issue has not changed. 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, and in several Member States it was, at the very least, restricted through emergency 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 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, we regret that they are not aiming to eliminate them, as this was essential in order to put an end to this kind of speculative financial operation. However, at the moment, it is not known exactly what will be accepted by the Council in a codecision procedure, since the final vote has been postponed until the next part- session in September."@en1

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