Daniel CaballeroSEGUIRMadrid Updated: Save Send news by mail electrónicoTu name *
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When the National Commission of the Market of Values (CNMV) banned short positions in Spain in mid-march, no one raised if that was necessary. The support was total. Not so much when it lifted the ban in mid-may. However, its president, Sebastian Albella , considered that the acting was exemplary, both at the beginning and at the end. “There are times that there are that adopt them, are measures regulated; there are reasons that justify its adoption and contribute to calming the markets”, he said.
The leader has recognized, in a conference of the General Council of Economists, that this is always a decision “controversial” and that, in that case, there was no unanimity in Europe. “ We try to mid-march the adoption of a general way at european level ; but he had different sensibilities and perceptions of what was to be the crisis and only us and five other countries adopt the measure,” he commented.
Companies in the Ibex 35 as Bankia, Banco Sabadell, Ence or ACS have been attacked by the bears these past few weeks already without a veto. Has been reflected in a greater fall than its competitors. Although Albella, “bless”, even these positions: “The cortistas produce positive effects in the market: increase liquidity, the transaction costs are lower, they help to identify early weaknesses of the companies, help to deflate before the bubble… And that is possible, allows you to strategies of negotiation that contribute in general to the good functioning of the market”.
Despite everything, the president of the CNMV has explained that you are still alert to any movement in the market that may disturb the financial stability. And he adds: “I Hope that we don’t have to take this measure any more”. Monitoring, yes, but with the hope of not having to go back to using it.
“All suprvisores we continue with the lights amber lit so it can happen. We had turbulence. Fortunately the actions of the ECB , and the systems have worked, but we are in a recession and after the crisis of nervousness, logically can come to problems of solvency and be reflected in the situation of the markets”, he said Albella, who considers, however, that the worst has already happened in general terms.