Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-213"

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"en.20111115.27.2-434-213"2
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"I voted in favour of the report on short selling. The financial crisis has hit Europe hard and weakened the economies of many countries. It is time to draw our conclusions. This report aims to limit payment defaults in order to stabilise the markets. The naked short selling of credit default swaps (CDS) is prohibited, thus preventing speculation on a country defaulting. Notifications and the communication of information have also increased, allowing for better control of financial systems upstream and anticipation of potential problems. The powers of the European Securities and Markets Authority (ESMA) have been strengthened to enable it to fulfil its role as arbitrator to the full and to control the markets. This report therefore makes it possible to pre-empt and prevent market volatility, the negative consequences of which for the economy we know only too well."@en1

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