Europe raring to go on CDS rules, bank taxes

european-commission2

Brussels on Wednesday welcomed a demonstration of political will behind the push for speedy agreement on tightening regulation of the sovereign credit default swap (CDS) markets.

Nicolas Sarkozy, the president of France, and Angela Merkel, Germany's chancellor, on Tuesday urged the European Commission to forge ahead in regulating CDS markets, in particular to consider an outright ban on naked short sales of the instruments. "Given recent market developments, we believe there is an urgent need

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