The leaders claim to Brussels together to make a proposal on short selling .- The Commission says working "expeditiously", and announced new products for summer
French President Nicolas Sarkozy and German Chancellor Angela Merkel, have come his way of apparent differences that have arisen between them as a result of unilateral decisions on financial monitoring of Berlin and its dramatic savings plan, which Paris does not just look favorably as it could hinder prospects for recovery in Europe. In a letter published today in the German capital, the leaders of the two main powers of the euro have asked the European Commission (EC) to accelerate the fight against speculation.
In the letter, addressed to the President of the EU executive, José Manuel Durão Barroso, Sarkozy and Merkel will claim that accelerate and intensify work on the regulation of financial markets and to explore the possibility of EU wide ban on short sales in listed companies and the bond market states. "The latest market developments lead us to ask the Commission to accelerate and intensify its work" on the regulation of "infrastructure of derivatives markets," they say. "In particular we believe it is imperative to improve transparency in short sales of stocks and bonds, especially in the sovereign debt markets," added the two leaders in the text.
Brussels has responded through one of its spokesmen, Pia Ahrenkilde-Hansen, who has announced new "during the summer." "The Commission is working expeditiously on these issues and appreciate the support that reflects the letter to our ideas and approaches and, as we announced, we will present concrete proposals during the summer," he has said before nuance that does not interpret the letter as a complaint, "but as a support" to the action plan of the EU.
Germany has unilaterally decided to ban short selling in the open its financial institutions and bonds to curb speculation. The decision, which was the subject of criticism by their partners in the euro to expose the lack of coordination between eurozone countries when dealing with the crisis, which in turn also increased the uncertainty in the markets was completed with the restriction of such operations in the derivatives. He has also forced to disclose short positions in all settings.
The market volatility through the overflow from the fiscal crisis of Greece in February this part has led EU countries to accelerate efforts to advance financial reform. Governments want to control speculators are behind the collapse of the euro, who are enriched by fall of the stock and they are doing business in the secondary markets for debt at the expense of feeding with countries with more deficit. This task is the responsibility of G-20, but has stuck by the divergence of opinions on both sides of the Atlantic and among European executives on how to do it.
A possible rate to banks to prevent taxpayers have to pay next crisis, as has happened in the present and that Germany has already announced it will launch in 2012, more control over the rating agencies and increase transparency markets are some of the main challenges for nearly three years later.
French President Nicolas Sarkozy and German Chancellor Angela Merkel, have come his way of apparent differences that have arisen between them as a result of unilateral decisions on financial monitoring of Berlin and its dramatic savings plan, which Paris does not just look favorably as it could hinder prospects for recovery in Europe. In a letter published today in the German capital, the leaders of the two main powers of the euro have asked the European Commission (EC) to accelerate the fight against speculation.
In the letter, addressed to the President of the EU executive, José Manuel Durão Barroso, Sarkozy and Merkel will claim that accelerate and intensify work on the regulation of financial markets and to explore the possibility of EU wide ban on short sales in listed companies and the bond market states. "The latest market developments lead us to ask the Commission to accelerate and intensify its work" on the regulation of "infrastructure of derivatives markets," they say. "In particular we believe it is imperative to improve transparency in short sales of stocks and bonds, especially in the sovereign debt markets," added the two leaders in the text.
Brussels has responded through one of its spokesmen, Pia Ahrenkilde-Hansen, who has announced new "during the summer." "The Commission is working expeditiously on these issues and appreciate the support that reflects the letter to our ideas and approaches and, as we announced, we will present concrete proposals during the summer," he has said before nuance that does not interpret the letter as a complaint, "but as a support" to the action plan of the EU.
Germany has unilaterally decided to ban short selling in the open its financial institutions and bonds to curb speculation. The decision, which was the subject of criticism by their partners in the euro to expose the lack of coordination between eurozone countries when dealing with the crisis, which in turn also increased the uncertainty in the markets was completed with the restriction of such operations in the derivatives. He has also forced to disclose short positions in all settings.
The market volatility through the overflow from the fiscal crisis of Greece in February this part has led EU countries to accelerate efforts to advance financial reform. Governments want to control speculators are behind the collapse of the euro, who are enriched by fall of the stock and they are doing business in the secondary markets for debt at the expense of feeding with countries with more deficit. This task is the responsibility of G-20, but has stuck by the divergence of opinions on both sides of the Atlantic and among European executives on how to do it.
A possible rate to banks to prevent taxpayers have to pay next crisis, as has happened in the present and that Germany has already announced it will launch in 2012, more control over the rating agencies and increase transparency markets are some of the main challenges for nearly three years later.
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