The European Parliament is currently reviewing a crucial piece of financial regulation called MiFID. This regulation, if done right, could rein in speculation on food prices, and protect the world's most vulnerable from the whims of Europe's big financial players.
But the MEPs whose votes are vital for this regulation are being heavily lobbied by the financial industry. Our main ally - the rapportuer on MiFID, Markus Ferber - has just done a u-turn on his ambitious proposals, in response to financial industry lobbying. If his new ammendments get passed, in a crucial vote on 9th July, vital regulation will be weakened, allowing European financial actors to continue profiting from hunger.