German parliament approves trading curbs

Berlin : German lawmakers yesterday approved a government bill that would cement in law and extend curbs on speculative trading practices following the country's abrupt imposition of restrictions in May.

The bill — which the government said is aimed at speeding agreement on stronger European rules, but the opposition denounced as ineffective — passed parliament's lower house with the votes of Chancellor Angela Merkel's centre-right coalition.

Germany's regulator in May banned so-called naked short-selling of Eurozone government debt and major financial stocks, as well as naked credit default swaps involving Eurozone debt.