CNMV President Elvira Rodriguez has decided to postpone the decision to ban short selling that was imposed by the previous president in order to prevent speculation on some particularly risky Spanish stocks.
The "exceptional case" is none other than the restructuring of the financial system.
The banks have defended the prohibition (Popular was able to save its debt sale, for example) while the market would prefer to return to the previous model in order to increase trading volume and get higher yields.
Rodríguez ought to defend investors' rights to trade freely and align herself with the rest of Europe's market places. But she's chosen a necessary evil instead.
