The Ghastly Guardian is reporting that the European Union "faces legal and political challenges" over its handling of the recent carbon markets crisis, when some markets had to close hurriedly after thieves had made off with rather large quantities of carbon allowances.

What is entertaining – although not in the least surprising – is that the markets remain in chaos. The novelty comes with EU officials due in a Belgian court today to answer a demand to name companies in possession of stolen allowances. This follows a legal challenge by TCEI of Italy, a holding company for trading house, The Cube Energy, which is hoping to recover 267,991 allowances that were stolen.

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