Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-425-125"
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"en.20110705.34.2-425-125"2
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"On reading the newspapers in recent months, I have noticed that terms like ‘short selling’ and ‘credit default swaps’ have unfortunately become part of everyday language, and not for the right reasons. These are the instruments through which the harmful speculation that does nothing but damage to our countries and people has been and is still being carried on. That is why it is important to introduce regulation, but it must be thorough and not just a by-product of the crisis. I therefore agree that it is a case of continuing with the trialogue to try to obtain a balanced text on which people can agree but which does not demonise these practices. The original text of the proposal was rather restrictive and would actually have stopped this kind of activity. Thanks to a series of amendments, the text that was adopted in the Committee on Economic and Monetary Affairs is much more balanced. At the moment the only point arousing concern is Article 12, which provides for restrictions on naked or uncovered short sales (sales not covered by shares borrowed or taken as collateral), as well as credit debt swaps. I truly hope that a balanced mutual agreement can be reached during the trialogue."@en1
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