Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-06-30-Speech-1-062"

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"Mr President, if compromise is about being able to live with views which are not entirely your own then the rapporteur has done tremendously well in terms of handling the debate within the House and within the committee, with the Commission and with the Council. He certainly listened to his colleagues and I congratulate him for his sensitivity. As Mr Ettl said, raising capital is vital, and it is more vital perhaps for small businesses where delicate problems can cause immense harm. The protection of businesses from disproportionate costs is surely vital and the attempt which has been made to steer this text towards a more balanced approach effects what I believe is the long-term security for this market. An obvious example, which was mentioned by Mrs Villiers, is on shelf registration, which could have caused tremendous harm and has been avoided. I also fought hard against this. I believe that is a great success. I would also like to mention, rather than going into the details which have been repeated so much, the risk capital action plan of which this is a part as well, and I am always keen to make sure we cross-reference. It is part of the Lisbon goals for growth for all our economies. The single market helps create the potential for such growth. As a past rapporteur on the risk capital action plan, I am pleased to see it has completed its passage through this House and I am pleased that it has been completed successfully so far. As the Commissioner says, there are other reports to come and I hope that they will reflect the same level of debate that we have heard for this particular report. It was not perfect when it reached this House – very rarely things are of course, which allows us to stay in the job we are in – and I believe that Parliament has handled it supremely well and this demonstrates the maturity which it can lend to such technical reports. I look forward therefore to our discussion on the transparency directive, which, as you now know, has been given to the Committee on Economic and Monetary Affairs. As the rapporteur I look forward to a very vital debate, as we will expect for the completion of the financial services action plan that this directive will be pointed at as well."@en1
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