Traduction de «Speculation » (Anglais → Français) :

105. Notes that after the 2008 food crisis, which severely affected many sub-Saharan African countries, food prices have gradually returned to previous levels and that volatility and speculation is likely to continue; calls on the Commission to elaborate upon response strategies for different contingencies, making any relevant proposals; calls on the Commission to also take note of the fact that gradually rising food prices is part of a marked, long-term upward trend, rather than a short-term issue and consequently, it requires a long-term holistic strategy, directly linked to broader development goals; calls for the inclusion of a ne ...[+++]w Food Facility or a comparable mechanism in the multi-annual financial framework for the years 2014 to 2020 to ensure the Union's ability to respond swiftly to new food crises using similar funds, given the unpredictability of new food crises and the increased volatility of food prices; believes that financial speculation exacerbates food price volatility and that it is, therefore, also necessary to take effective action against such speculation, including the regulation and control of derivative markets;

21. Believes that reducing speculation on commodities markets, which has been a factor in the extreme food price volatility of the last years, should become an item for dialogue between both sides; reminds in this respect of the need to discourage speculators from cherry picking between various regulatory systems and from continuing to create instability through massive speculative movements on commodity markets; welcomes the Dodd-Frank "Wall Street Reform and Consumer Protection Act" in the US and calls on both sides to continue to aim at providing greater transparency of markets and to limit speculative behaviour;

The provision refers to situations where it is not possible to wait until the committee votes again on the same or another draft measure because in the meantime the market would be significantly disrupted e.g. due to the speculative behaviour of operators.

40. Believes that pressing issues, such as reducing speculation on commodities' markets, which has lead to extreme food price volatility, could be better tackled through dialogue between the EU and the US; reminds in this respect the need to avoid regulatory arbitrage of speculators, which should not be able to cherry pick between various regulatory systems and continue to create instability through massive speculative movements on commodities' markets; welcomes recent legislation on both sides aiming at greater transparency and limiting speculative behaviour;

26. Believes that reducing speculation on commodities markets, which has been a factor in the recent extreme food price volatility, should become an item for dialogue between both sides; reminds in this respect of the need to discourage speculators from cherry picking between various regulatory systems and from continuing to create instability through massive speculative movements on commodity markets; welcomes recent legislation on both sides aiming to provide greater transparency of markets and to limit speculative behaviour;

It will all depend on its level, but there are a number of possible strategies and I agree completely with you that the objective of funding is secondary to the objective of combating speculation. The thing that astounds me is your claim that a minor amount cannot have a deterrent effect on speculation. The minor amount you mention is precisely in the same order as the daily variations in the euro/dollar exchange rate, and this is something we are attempting to combat by other, infinitely more costly methods.