Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-056"
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"en.20111115.27.2-434-056"2
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"Since the start of the financial crisis, several Member States have taken measures to suspend or ban short selling. However, the powers that national regulators have to restrict or ban such selling vary from Member State to Member State. This new regulation will create a harmonised framework for coordinated action at European level. This regulation bans or restricts these transactions and makes it more difficult to speculate on a country’s sovereign debt. The new legislation intends to increase transparency and enable regulators to more easily detect the risks of the debt market. The regulation also makes it impossible to buy credit default swaps with the sole purpose of speculating on a country’s default, owing to the negative impact that these can have on the stability of the sovereign debt markets. The European Securities and Markets Authority will be central to monitoring and supervision activities. The regulation also introduces stricter requirements as regards informing and notifying national and European regulatory entities, in order that these might be able to monitor the markets and detect the accumulation of risk more easily. I voted for this report for the above reasons."@en1
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