The success of an effort by German regulators to help curb volatility of debt securities in the Eurozone could depend on whether other European nations follow suit. On May 18, Germany's Federal Financial Supervisory Authority (BaFin) temporarily prohibited naked short selling for debt securities and prohibited naked short selling transactions in the shares of 10 financial sectorrncompanies. The ban is scheduled to end in March 2011. On June 9, German Prime Minister Angela Merkel and French President Nicolas Sarkozy reportedly wrote a letter to the European Commission urging them to institute a wider EU short selling ban.
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