Europe’s decision makers may stand together in their desire to calm the financial markets on to how to do that they go their separate ways.
France, Italy, Spain and Belgium have temporarily banned the so-called short-selling of financial shares while Britain, the Netherlands and Austria said they see no need for that.
The European Commission said a European framework would be more effective and the head of the European Securities and Markets Authority, Steven Maijoor, said he would like to see Europe-wide regulation: “There are no concrete plans at this stage for other countries but I cannot rule out that that might change in the coming days or weeks or months.”
However a lack of coordinated action throughout Europe may just mean investors moving to other countries where they can still sell financial shares short.
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