Fed up: Fight food speculation with MiFID 2 !

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fed up: Fight food speculation with MiFID 2 !

 

Conference of the GUE/NGL, European Parliament

April 12th, 3.00 – 6.30 pm

European Parliament, Brussels (ASP 1 G2)

 

 

Speculation with food and commodities is responsible for the high volatility of food prices in the global south. Therefore, the fight against global hunger must begin on financial markets. The revision of the European directive MiFID II and the new associated regulation MiFIR offers for the first time the possibility to tackle on the European level speculations with commodities and food. What needs to be done? What are the demands from civil society and the left regarding the re-cast of MiFID.

 

 Welcome by Jürgen KLUTE and Gabi ZIMMER, outlining the state of financial regulation in EU, debate in parliament and other institutions
Panel I: high frequency trading, market structure

David BICCHETTI (UNCTAD), 15 minutes speech
on High frequency trading (HFT) as a reason of volatility on commodity markets; referring to recent study showing evidence on this and to report of UNCTAD and AK Austria on price formation on financialised markets

Benoit LALLEMAND (Financewatch), 15 minutes speech
Mifid 1 as a means to libearlise financial markets – and as main prerequisite for HFT in Europe and expansion of financial markets as a whole;
consideration of current amendments on HFT in the report presented by Rapporteur Markus Ferber

facilitated by Jürgen Klute (MEP GUE/NGL)
Panel II: commodity speculation

Pedro PÁEZ (former Minister of Finance, Ecuador) 15 minutes speech
view from the South: position on MiFID proposal concerning food / commodity speculation, impact of European markets on south american food markets and food souverignty
Markus HENN (weed Germany), 15 minutes speech
how to tackle food speculation with Mifid/mifir? – considering current amendments

facilitated by Gabriele ZIMMER (MEP GUE/NGL)
Panel III: Debate on political follow up process

Maite FABREGAS FERNANDEZ (European Commission)

MEPs from different groups: Pascal CANFIN (tbc), Jean-Paul GAUZÈS (tbc), Robert GOEBBELS (tbc), Dennis DE JONG (tbc)
commenting / dicussing the debates during the afternoon from different point of views / political approaches

 

End of conference
GUE/NGL press contact
Gianfranco Battistini + 32 475 646628
[email protected]