In a bid to control the sort of trading that destabilized markets and put the euro in danger, the European Union proposed a series of rules governing such trades.
As reported in The New York Times on Wednesday, the proposed rulesare in line with those already put in place by the U.S., and are aimed at preventing economic destabilization in the wake of bank collapses.
Michel Barnier, commissioner for the European Union's internal markets, said markets needed reassurance that Europe was using a single set of rules regarding short selling that would defend weaker economies.
