EU executive urges joint action on short-selling; says finance minister should debate Friday
By APWednesday, May 19, 2010
EU Commission urges joint action on short-selling
BRUSSELS — The European Commission wants European governments to jointly act against short-selling of shares and investments.
EU Internal Market Commissioner Michel Barnier says he understands Germany’s move to suspend so-called naked short-selling of eurozone government debt and shares of major financial companies.
“These measures will be even more efficient if they are coordinated at European level,” he said in a statement Wednesday.
“Financial markets are currently uncertain and volatile,” he added.
He urged finance ministers of the 16 euro nations to discuss the issue at a special meeting Friday.
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