EU: Call for ban on CDS speculation
Germany and France on Wednesday called on the European Union to consider banning speculative trading in credit default swaps and set up a compulsory register of derivatives trading. The move came as Angela Merkel, German chancellor, called for EU institutions to be given “more teeth” both to control speculation and to police the deficit spending of member states. François Fillon, French prime minister, said after talks in Berlin that both governments were “very much in agreement in tackling extreme speculation”. The two leading economies in the eurozone are asking for an immediate investigation of the role and effect of speculative…
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