German Chancellor Angela Merkel and French President Nicolas Sarkozy are proposing a Europe-wide prohibition of the controversial practice of "naked" short selling as a way to calm the markets, according to a joint letter addressed to the head of the European Commission.
"The severe turbulence observed on financial markets over recent months has ... led to considerable concern among member states of the European Union and all our fellow citizens," they wrote Tuesday to Commission President Jose Manuel Barroso.
"The severe turbulence observed on financial markets over recent months has ... led to considerable concern among member states of the European Union and all our fellow citizens," they wrote Tuesday to Commission President Jose Manuel Barroso.
