Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-01-15-Speech-3-137"
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"en.20030115.7.3-137"2
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".
This report should be seen against the backdrop of the action plan for financial services planned under what is known as the Lisbon strategy, which aims to integrate markets and financial services by 2005 and to achieve greater liberalisation of movements of capital, to which we are opposed. On the basis of a recent Commission communication, which seeks to regulate the clearing and settlement of securities transactions, in other words, the functioning of the integrated securities markets, especially in crossborder transactions, and in the aim of liberalising movements of capital and of creating a single market for financial services, it also seeks to harmonise the rules, legislation and methods of clearing and settlement in the various Member States, taking account of the considerable national differences that exist in this field.
Hence the desire to create a common European infrastructure and the proposals to follow the American example, exerting pressure on the Commission to study a similar approach for the European Union, also calling on the Member States, in the forthcoming revision of Directive 93/22/EEC, on investment services, to give investment companies from other States the right of access to national clearing and settlement systems. This is something with which we disagree."@en1
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