\”The mindset of European political leaders does not fit them to react flexibly to financial crises,\” said Stephen Lewis of Monument Securities. \”This is not a time for hidebound adherence to theory. Yet ideologies still infect political circles in Continental Europe. This is why euro zone politicians spend more time deliberating over bank levies and short-selling bans than working out how to cope with their malfunctioning currency arrangements.\”
For example, just about all of them shout about how speculation increases volatility….when the empirical results seem to be that it reduces it.