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GAAP.RUNewsGermany spreads fear among European investors

Germany spreads fear among European investors

Its prohibition of unsecured “shorting” has more negative than positive effects at the moment

Publication date: 19 May 2010

Germany hasn’t succeeded in persuasion of other countries to join the prohibition on short selling, without which it is unlikely that those measures will be effective. In is turn, the market took is as a sign of further worsening of the debt crisis in Greece. The euro to dollar exchange rate reached its four-year minimum this Wednesday.  

Germany’s ban on short selling (“shorting”) scares investors in Europe who fear much more serious debt crisis in Greece - representatives of the Committee of European Securities Regulators (CESR) and the Financial Services Authority (FSA) commented.