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Verbatim report of proceedings
Monday, 4 July 2011 - Strasbourg OJ edition

Short selling and certain aspects of credit default swaps (debate)
MPphoto
 

  Olle Schmidt (ALDE). – Mr President, I would rather use my mother tongue, but OK. Mr Giegold, I tried to explain that in Swedish and I think the burden of proof is upon you to say why you should ban naked CDSs today, because exactly as the Commissioner said, there is turmoil out there in the market. We do not know what is going to happen – that is also what Mr Lehne said. This is the crucial issue now: you do not know what is going to happen, I do not know what is going to happen, therefore be cautious, my dear friend Sven Giegold, be cautious. We are not dealing with theories now. We are dealing with a dramatic economic situation in Europe today, so you have a responsibility to know what kind of proposals you are passing through this House.

 
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