Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-046"
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"en.20111115.27.2-434-046"2
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"I supported the report by Pascal Canfin, which paves the way for an agreement with the Council on the adoption of the regulation on ‘short selling and certain aspects of credit default swaps’.
This is the first time that the European Union will legislate in this area to ban these complex products, with potentially harmful and destructive effects, that allow speculation on countries’ sovereign debt and result in volatility and exaggerated reactions on the markets.
This is a new, decisive step that we, the Members of the European Parliament, are taking to ensure better regulation of the European financial markets and break the vicious circle and spiral of events that have led to the recent financial crisis."@en1
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