German Cabinet approves trading curbs bill
Wolfgang Schaeuble
Some market watchers say most such trading is conducted outside Germany  and Schaeuble said Wednesday that Berlin's move -- which applies only to domestic markets -- effectively bans naked short-selling only of German and Austrian government debt.
 "The criticism made of our plans that we are impairing trading of other European government bonds is unfounded " he argued. He added that the legislation will allow his ministry to authorize exceptions.
 Schaeuble said he acted after hearing that the European Commission wouldn't be able to propose rules on naked short-selling before October.
 He noted that a German decision earlier this year to introduce a levy on banks  which would pay into a fund to cover the costs of future financial crises  was followed by European proposals.
Some market watchers say most such trading is conducted outside Germany  and [TGT] said Wednesday that Berlin's move -- which applies only to domestic markets -- effectively bans naked short-selling only of German and Austrian government debt.
 "The criticism made of our plans that we are impairing trading of other European government bonds is unfounded " he argued. He added that the legislation will allow his ministry to authorize exceptions.
 [TGT] said [TGT] acted after hearing that the European Commission wouldn't be able to propose rules on naked short-selling before October.
 [TGT] noted that a German decision earlier this year to introduce a levy on banks  which would pay into a fund to cover the costs of future financial crises  was followed by European proposals.