EU moves toward optional ban on naked sovereign CDS

11/10/2011 | Bloomberg Businessweek

National ambassadors to the EU support a proposed short-selling law that would be a step toward banning naked sovereign-debt credit default swaps, despite legal concerns voiced by the U.K. The measure would be optional, so countries could opt out if it boosts borrowing costs. The European Parliament is scheduled to vote on the proposal next week.

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