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The European Commission opened an investigation in regard to what extent and whether there are any speculative games with Greek CDS market securities or in other words, the risk premium on government debt. This was announced by the Commissioner for Internal Markets and Services to the European Union, Michel Barnier. The French commissioner also said that soon a regulatory framework of the CDS market papers will be voted for, which will ensure transparency and stability of European financial markets. 

"Those people do not like trading out in the open," said Barnier regarding traders of risk premiums on public debt of countries in difficulty. Traders with this type of trading securities will be required to register as part of measures to increase transparency in financial markets. Bloomberg agency article says that the Commissioner stresses the need for evaluation rating agencies also to obey the rules of transparency. It is expected in June this year voted for will be the method proposed action and use of evaluation agencies in EU countries, and in December of CDS trading securities. 

Meanwhile, Greek Prime Minister George Papandreou told German publication Handelsblatt, that he along with French President Nicolas Sarkozy, Germany's Chancellor Angela Merkel and President of Eurogroup Jean-Claude Juncker, have sent a joint letter to U.S. President Barack Obama with a proposal to close the Swaps credit default. According to Reuters, this proposal will be examined by the parties in G20, without specifying when it will have a clear answer to the query. The publication stresses that for months European leaders blame CDS securities speculation for the price of public credit (spreads) increase of Greece, Portugal, Ireland and Spain. 

The general situation of European financial markets is not very pink. Earlier this week financial observers noted that the single European currency is at its lowest point since April 2006. Athens Stock Exchange fell in the first day of the week and closed with a loss of 1.43 percent.