Please, stop watering our boastful comments that discredit your actions. Throughout this financial crisis, politicians have often acted with courage and determination. Their ability to destroy themselves by demonstrating their incompetence by their statements in financial matters is unlimited.

It is clear that you want to vote collectively an EU directive which will limit the risks that hedge funds pose to financial stability and economic. Was he, Mrs. Merkel, as you go about your decision and isolated national short selling and hedge funds? You must surely know that your action will have no effect in reality and you destabilize a consensus. Not in Frankfurt as it happens, but in London, Hong Kong, Tokyo or New York. What is your goal? There is nothing to gain from oratorical effects on both global issues and techniques. You have done more than any other State Member of the European Union in this crisis to destabilize the Eurozone. This was the case again yesterday.

The question is not speculation: it accounts for only about 5% of exchange rate movements. Banning short selling while the EU directive does for hedge funds will have a very clear result: investors, instead of covering their risk by various techniques will simply sell their bonds. The effect will be worse. The public debt markets will be dearer. And all countries will pay the price. (more…)