Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-09-25-Speech-4-041"
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"en.20030925.4.4-041"2
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"Mr President, Commissioner, ladies and gentlemen, I should like to thank all three rapporteurs for their excellent work, but especially Mrs Laura González Álvarez, whom we miss greatly in the committee.
The role of the Committee on Petitions is to ascertain whether national and local authorities are implementing and applying EU directives properly. We are therefore obliged constantly to enter into disputes with national governments or ministries, and sometimes the European Commission also launches infringement proceedings. Obviously this is not to the advantage of the government concerned, but we are here – and that is how I understand my work in the committee – to protect the public. These Lloyd's petitions are unpleasant, not only for the former and current British governments, but also for the European Commission, which hesitated as early as 1978 to take steps against the United Kingdom. The circumstances surrounding the exchange between the Commission and the British Government on Lloyd's were very curious.
But just what is the so-called Lloyd's scandal? Lloyd's had recruited Names without making these people aware that it was facing huge insurance losses, mainly due to rulings in the USA on asbestos cases. The Lloyd's management then passed these losses on to the Names. As a result many lost their assets and some the only provision that they had made for their retirement. It was not only Britons that were affected but also Belgians and Germans. A few even took their own lives. Now we could say very coldly, 'Well, hard luck!' But no, these people were confident that the insurance market was regulated and that British and EU law would be respected.
I am standing between two highly esteemed British colleagues, namely Roy Perry and Michael Cashman. I am very pleased that a compromise has been reached, but I also deeply regret the fact that this report has caused such a political upheaval. I welcome the compromise and hope that it will enable us to bring justice to the petitioners and help to ensure that such a tragedy does not happen again."@en1
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