Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-03-30-Speech-2-144"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2004-03-30"^^xsd:date2
dcterms:Is Part Of	lp_eu:Vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20040330.4.2-144"2
lpv:hasSubsequent	lp_eu:2004-03-30-Speech-2-1452
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	member_of_the_bureau; EUL/NGL (2002-03-06--2004-07-19)3 unknown; Partido Comunista Português (1999-07-20--2004-07-19)3 member; EMPL (2002-01-17--2004-07-19)3 substitute; AGRI (2002-01-17--2004-07-19)3 substitute; Committee on Women's Rights and Equal Opportunities (2002-01-17--2004-07-19)3 member; Delegation for relations with the Mashreq countries and the Gulf (2002-02-07--2004-07-19)3 substitute; Temporary committee on improving safety at sea (2003-11-20--2004-04-21)3 substitute; PECH (2002-01-17--2004-07-19)3
lpv:translated text	". The Transparency Directive is one of those needed to complete the financial services action plan, which aims to establish an internal market for financial services in 2005. The last Spring Council notified Parliament of its wish to complete this process before the forthcoming European elections. Our opposition to this process, which forms part of the Lisbon Strategy, revolves not solely around federalist issues relating to legislative harmonisation and to the effective loss of sovereignty over monitoring financial services markets and those operating in these markets, it is also based on economic considerations, given that the unchecked movement of capital and the speculative nature of a market focused on the short term and on accruing capital gains are responsible for increased volatility and for the likelihood of financial crises, which affect economic growth and jobs. The issue of information made available to investors is crucial, not in order to appease investors, but to ensure transparency and truth, which were both absent from the recent financial scandals involving Enron and Worldcom, along with Parmalat in Europe. While we are purporting to protect small investors and small undertakings, efforts are being made to deregulate and reduce the cost of capital for, of course, the large multinational corporations."@en1

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