EU markets chief Barnier warns the City casino days are over

[AtW]

"We want to know who is doing what with short-selling," said Michel Barnier, the European single market commissioner and the Frenchman in charge of the EU's new machinery of regulation.

"We need markets, and we need financial institutions that create value-added, but everyone has to be able to answer for what they are doing. People taking crazy risks linked to crazy rewards have to be brought back to their senses," he said, in a wide-ranging interview with The Daily Telegraph at the annual Ambrosetti conference on the shores of Lake Como.

More: EU markets chief Barnier warns the City casino days are over - Telegraph

[Alf W]

The EU's got more chance of nailing jelly to the ceiling than they have of reigning in the financial markets.

They should stick to farming subsidies and European University exchange trips and other stuff they know.

[AtW]

They should stick to farming subsidies

Food has gone up in price massively already, and it's going up again: Food inflation to hit 7% by year's end - Telegraph

Unlike short selling and all that derivative tulip it's something people can't live without - literally, so it's a good idea to have your own (within EU borders) food production.

[scooterscot]

"We want to know who is doing what with short-selling,"

While the UK wonders who does what... Germany has already taken steps and banned the whole activity.

Can I have the keys to your car ATW? I know it does not belong to me but I've just sold to this chap for a really good price...