EU’s Barnier: trading restrictions must be coordinated

BRUSSELS, May 19 (BestGrowthStock) – The European Commission called
on countries in the 27 member state block to work together on
Wednesday following moves by Germany to restrict trading in
securities such as credit default swaps.

Responding to Germany’s decision, EU commissioner for
internal markets and financial regulation, Michel Barnier said:
“I fully understand German and Austrian concerns about possible
impacts of naked short selling.”

“These measures will be even more efficient if they are
coordinated at European level.”

In the statement, Barnier said: “It is important that member
states act together and that we design a European regime to
avoid regulatory arbitrage and fragmentation both with the EU
and globally.”

He said Germany’s moves against derivatives should be
discussed at a finance ministers’ meeting on Friday.

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EU’s Barnier: trading restrictions must be coordinated