I hope the shortselling ban on ten financial companies is is just a precautionary measure that presages a debt restructuring for Greece. That would be a welcome outcome.
“
| — |
Edward Harrison in Beggar thy neighbour: Martin Wolf is singing from my songbook I hadn’t thought of this. If there was a silver lining to this sudden action by Germany, a Greek restructuring would certainly be it. If this scenario plays out, expect France to come out with a similar ban. Otherwise, France is screwed. If this isn’t the scenario about to unfold, German financials are screwed. Come to think of it, German financials are screwed anyway. Short selling bans never help beyond the extreme short term. |
