In a letter addressed to President Barroso, Sarkozy and Merkel urged the Commission to accelerate and intensify work on the regulation of financial markets and to explore the possibility of EU wide ban on short selling. The Commission announced that new measures will be presented during the summer.
In a letter addressed to President Barroso, Sarkozy and Merkel urged the Commission to accelerate and intensify work on the regulation of financial markets and to explore the possibility of EU wide ban on short selling. The Commission announced that new measures will be presented during the summer.
Brussels has responded through one of its spokesperson, Pia Ahrenkilde-Hansen, who has announced that new measures will be presented “during the summer." "The Commission is working on these issues and appreciate the support that reflects the letter to our ideas and approaches and, as 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, exposed the lack of coordination between eurozone countries when dealing with the crisis.
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