One Year Ago In Derivatives Week

Sharon Bowles, chair of the European Parliament’s Economic and Monetary Affairs Committee, slammed Germany’s decision to ban naked credit default swaps trading on eurozone sovereign bonds, noting it was done for political purposes, not technical purposes, and that it was to get political votes through to approve an E.U. bailout regime. [Two weeks ago, the European Council ruled out a permanent ban on naked CDS trading on sovereign bonds, subsequently going against the wishes of Germany and the majority of the European Parliament.]