Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-201"
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"en.20111115.27.2-434-201"2
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"As the majority of experts state, the current economic and financial crisis has demonstrated the economic, social and political costs of a self-regulated financial system. The attention of the experts now returns to the search for a methodology that could identify behaviour capable of causing new crises in the financial system. This report, drafted by Mr Canfin, concerns the proposal for a regulation of the European Parliament and of the Council on short selling and certain aspects of credit default swaps (CDSs), which were banned in some Member States at the peak of the crisis. A bad debt cannot be classified as good and no one can sell something not in their possession. It is crucial that there be legislation harmonising the potential risks resulting from short selling and CDSs in order for the financial systems to be more secure and run more smoothly. I welcome the adoption of this report, which will give more powers to the European regulators, greater transparency to the financial markets, and greater security to all investors, who will now be at less risk of losing their investments."@en1
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