Schaeuble Said to Push for Ban on Naked Credit-Default Swaps
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German Finance Minister Wolfgang Schaeuble plans to urge European Union governments to consider a ban on trading of naked credit-default swaps on sovereign debt, two people familiar with the discussions said.
Schaeuble will seek an EU-wide ban to be included in draft EU rules on short selling, said the people who declined to be identified because the discussions aren’t yet public. He will raise the issue when finance ministers discuss a possible deal on the short-selling curbs at a meeting in Brussels on May 17.