EP Pleanry press conference: watch it live

Watch it live: www.socialistsanddemocrats.eu

Update on the Financial, economic and social crisis: measures and initiatives to be taken

The final report, which is supposed to complement the mid-term report successfully adopted in plenary in October
2010, introduces new relevant aspects and topics where the rapporteur and the S&D group, through its amendments,
have been able to achieve far reaching conclusions. Getting into details on the content - which is fairly good
as the guiding principle of the report is the request of more Europe and more political and economic integration as
an answer to the crisis with a long term perspective - the note will go through the most relevant paragraphs within
the different chapters.

Short selling and aspects of credit default swaps

In light of the European debt crisis, this regulation is essential in diminishing speculation on sovereign debts. The
European Parliament, lead by the S&D Group, is thus pushing for a ban on uncovered credit default swaps. Speculative
activities that serve no societal purpose and are harmful to Europe’s long term economic stability must be
forbidden