Little will be done to curb harmful food speculation today as EU finance ministers meet to approve their position on the new Markets in Financial Instruments Directive (MiFID II) – which sets new regulations for financial markets. According to a broad coalition of environmental and development organizations, loopholes in the legislation will render it ineffective to prevent food speculation, and the resulting food price spikes that hit the poorest the hardest.
Onus of incorporating strong rules to limit speculation on food commodities into Markets in Financial Instruments Directive (MiFID) now lies with Member States
Joint NGO media reaction by Oxfam; Friends of the Earth Europe; World Economy, Ecology and Development (WEED); World Development Movement
Europe’s crisis must be fixed because it is becoming a serious drain on developing countries already reeling from volatile food prices and aid cuts. But it’s not good enough for the G20 to fixate on Europe and forget about the rest of the world.
Food prices are a matter of life and death to many in the developing world. This video by Oxfam Germany illustrates the consequences of excessive speculation with food commodities.
More robust rules are needed to tackle food speculation
New rules proposed today by the European Commission will shed light on betting on food commodities by financial traders, bu
About innovative financing for development and climate change
EU Finance Ministers today agreed their common position for the upcoming G20 Finance Ministers meeting on 14-15 October in Pa
Food prices are a matter of life and death to many in the developing world.