Brussel·les amaga que els CDS no van pintar res en la crisi grega

Brussel·les hauria decidit no publicar un informe sobre la crisi grega perquè la investigació hauria conclòs que no van existir actuacions especulatives estranyes o improcedents. La notícia la publica el Financial Times.

A Brussels investigation into possible problems with speculative trading of credit default swaps on Greek sovereign debt in the wake of the country’s crisis is understood to have found few serious flaws, triggering rumours that officials are reluctant to release the document.

Several sources told the Financial Times on Tuesday that findings by the task force – made up of European Union officials and outside experts – had not revealed the type of serious endemic problems with the Greek sovereign CDS market which would support the heavy-handed regulatory approach backed by several EU member states.

No mention was made of the task force’s findings when the European Commission unveiled a politically charged consultation document on short selling on Monday which – among other things – mooted giving European regulators powers to ban or restrict trading in CDSs if these related to the potential default by a member country.

The consultation was unveiled following heavy pressure from France and Germany to crack down on speculative trading. A joint letter from Angela Merkel, the German chancellor, and Nicolas Sarkozy, the French president, called for proposals within a month to regulate short selling and trading in sovereign CDS.

(Via Barcepundit)