Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-209"
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"en.20111115.27.2-434-209"2
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"At a time of considerable financial instability, short selling can aggravate the downward spiral in the prices of shares, in particular, those of financial institutions. As a result, systemic risks may be generated which could threaten the viability of these institutions. There is no specific legislative framework within the EU for dealing with short selling issues and, therefore, the measures taken by the Member States during the financial crisis varied significantly. In order to improve the functioning of the European financial markets and to ensure a high level of consumer and investor protection, a common framework with regard to the requirements and powers relating to short selling and credit default swaps needs to be established and greater coordination and consistency between the Member States must be introduced where measures have to be taken in an exceptional situation. In addition, it is appropriate to choose the form of a regulation, as some provisions impose direct obligations on private parties to report and disclose net short positions relating to certain instruments and naked short selling. Therefore, I have voted in favour of this report."@en1
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