Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-04-Speech-3-111"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:VOTE2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20010704.3.3-111"2
lpv:hasSubsequent	lp_eu:2001-07-04-Speech-3-1122
lpv:speaker	lp:Jean-Louis Bourlanges2
lpv:spokenAs	substitute; CONT (1999-07-21--2002-01-14)3 member; BUDG (1999-07-21--2002-01-14)3 member; EPP-ED (1999-07-20--2002-03-07)3 member; Delegation to the EU-Poland Joint Parliamentary Committee (1999-10-06--2002-01-14)3 unknown; Union pour la démocratie française (1999-07-20--2004-07-19)3
lpv:translated text	"The rejection of the proposed directive on takeover bids will spell the end of any serious attempts to harmonise financial services in the European Union for a long time to come. Parliament’s decision reflects a number of profoundly different expectations. For example, it reflects the legitimate frustration of the supporters of genuine legislative harmonisation, who felt less and less at home with a text that became more and more minimalist, technically unsound and politically imbalanced, and who wanted to punish arrogant governments for refusing to make any concessions towards Parliament. The rejection inflicted on the EP delegation in the conciliation committee can be explained, however, by the growing strength of a quite different sense of nervousness that led to a retreat into protectionism, which shattered the fragile agreement that had been reached in conciliation. The German MEPs found that many Netherlands, Spanish and Italian colleagues gradually came to support their strategy of rejection. As for France, its Socialist government taught rather paradoxical lessons in liberalism, while at the same time allowing a hyper-protected national company to launch a spectacular, all-out takeover bid and rouse the demons of protectionism from their hopelessly light sleep in many parts of Europe. Many people still regarded the directive as too much of a threat even when it had been watered down and emasculated and even though it did not have to be implemented for another five years. No-one will mourn the final shipwreck of a text that went from concession to surrender, ending up as little more than the shadow of a common policy. At the same time, no-one can be unaware that this bad text was largely rejected for the wrong reasons. After the Irish referendum, the rejection of a directive concerning a vital economic issue is yet another sign that Europe is going through a very serious political and moral crisis today."@en1

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