BLOOMBERG/ German Chancellor Angela Merkel’s attempt to rein in speculators with a ban on naked short-selling is part of her proposals to gain control over “destructive” financial markets. But it is backfiring in debt and currency markets although the euro is up slightly from recent lows. Merkel's “... uncoordinated effort is counterproductive to the long-term survival of the euro,” says researcher Christopher Garman. “While it may temporarily alleviate what they see as the animal imagery of locus and wolfpack, or however else they describe speculators, it adds to a climate that’s becoming more uncertain by the day.” “Unless you have the U.K., United States and rest of Europe on board, then it’s a waste of time,” claims market analyst David Buik. “You’re asking people to look for trouble. It’s so ham fisted it’s laughable.”
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