Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-03-13-Speech-3-231"
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"en.20020313.10.3-231"2
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"Mr President, Commissioner, I would like to thank the rapporteur and in particular the Commission. In the von Wogau report on comitology we also introduced the area of market participants, and I believe that there was very good cooperation in the area in which I was shadow rapporteur for the financial conglomerates, between the Commission, the Council, market participants and Parliament, especially in the preparatory phase. This is in fact an appeal to the Commission to carry forward this good cooperation between market participants, Parliament and the Commission, and to eliminate sources of irritation and possible misinterpretations in advance. We have succeeded relatively well in doing this, and I think that we can work in this way for the future in accordance with market trends.
People keep saying that this is a technical report because it is so complicated. It certainly does have major implications. I will of course comply with the President's wish that I should be very brief, but I would like to touch on one or two points, especially the collapse of Enron, which has been repeatedly mentioned. I believe that we need to take Enron's collapse seriously, and we need to think about drawing the necessary conclusions from it. One conclusion, for example, could be about how we deal with firms of auditors and consultants in Europe in future. Ultimately, however, in this area as well we need to take account of the changing situation – the fact that ever more financial conglomerates are coming into existence which operate internationally, in relation to the joint forum and at the same time Basel II. It is our job as the European Parliament to make sure that the public is protected, but also that our companies remain competitive in this global competitive struggle. We have to take appropriate corrective measures here. I believe that we have considered these measures here in Parliament as part of a calm dialogue, and that we have been able to eliminate many problems, and I believe that could set a good precedent for how we deal with these topics."@en1
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