Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-140"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-11-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"es"^^xsd:language2
lpv:document identification number	"en.20111115.27.2-434-140"2
lpv:hasSubsequent	lp_eu:2011-11-15-Speech-2-434-1562
lpv:speaker	lp:Antolín Sánchez Presedo2
lpv:spokenAs	substitute; PECH (2009-07-16--2012-01-18)3 substitute; Delegation for relations with the United States (2009-09-16--2014-06-30)3 member; S&D (2009-07-14--2014-06-30)3 member; Delegation for relations with Japan (2009-09-16--2012-02-12)3 member; ECON (2009-07-16--2012-01-18)3 unknown; Partido Socialista Obrero Español (2009-07-14--2014-06-30)3
lpv:translated text	"The adoption by Parliament of the regulation on short selling and certain aspects of credit default swaps (CDSs) is an important step forward in financial reform. I congratulate the rapporteur, Mr Canfin, and the other shadow rapporteurs on the content of the agreement with the Council. The regulation introduces transparency in the area of short positions on securities, bonds and CDSs. It strengthens the powers of the European Securities and Markets Authority (ESMA) to take coordinated action to limit speculation. Restrictions must be imposed on the short selling of securities and bonds in order to ensure that the regulation functions properly. It is also appropriate for these restrictions to be lifted for long-term bonds or those designed to increase liquidity in the Member States. The ban on naked short selling of CDSs on sovereign debt will prevent a few unscrupulous speculators from making fortunes at the public’s expense. It is reasonable for the Member States to have the option of temporarily revoking this rule to stop it harming them when the market is not functioning properly, under the scrutiny of the ESMA."@en1

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