France, Italy, Spain and Belgium have decided to take on the role of King Canute and are attempting to turn back the tides of the markets. They have banned the short-selling of banking stocks.
The ban will last 15 days.
A similar ban was put in place in 2008.
The result?
The shorters were proved right.
As such this ban will have little positive effect, and may well exacerbate the situation.
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