Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-03-13-Speech-3-327"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2002-03-13"^^xsd:date2
dcterms:Is Part Of	lp_eu:Financial markets (continuation)2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20020313.12.3-327"2
lpv:hasSubsequent	lp_eu:2002-03-13-Speech-3-3282
lpv:speaker	lp:Benedetto Della Vedova2
lpv:spokenAs	member; Delegation for relations with the countries of South Asia and the South Asia Association for Regional Cooperation (SAARC) (2002-02-07--2004-07-19)3 member; ECON (2002-01-17--2004-07-19)3 member; NA (2001-10-03--2004-07-19)3 unknown; Lista Emma Bonino (1999-07-20--2004-07-19)3 substitute; Committee on Industry, External Trade, Research and Energy (2002-01-17--2004-07-19)3
lpv:translated text	"Madam President, Commissioner, ladies and gentlemen, the reports we are examining today show that the sacrosanct objective of ensuring transparency and a high level of disclosure in the financial markets may conflict with other equally important requirements, such as not overwhelming small enterprises with excessive administrative burdens. I believe that the rapporteurs and the Committee on Economic and Monetary Affairs have done a good job in achieving a fine balance between the various requirements at issue, and I therefore think that Parliament should approve the proposals adopted in committee by a large majority. Two points now: the first, which is urgent, concerns the creation of the so-called single passport, designed to speed up and cut the cost of raising capital within the European Union. I believe that Mr Huhne’s framework, which the Committee has adopted, is something we can accept in its entirety. The second point concerns the chance given to the Member States to exempt companies with capitalisation below the EUR 350 million threshold from the obligations arising from the directive, as proposed by Mr Huhne. I believe this is a way of tempering the transparency of information with safeguards for the less small companies. In conclusion, I am also convinced by the arguments in favour of allowing the competent authority to be chosen by the issuer, as proposed by Mr Huhne. It is a mechanism that may prompt useful comparisons between the practices of the authorities in the Member States. In these cases, as always, the scaremongers talk of a race to the bottom or, in other words, a decline in quality. I believe that we should instead have more confidence in the ability of the markets to select and reward best practices."@en1

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