Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-04-27-Speech-3-132"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2005-04-27"^^xsd:date2
dcterms:Is Part Of	lp_eu:Financial markets2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20050427.12.3-132"2
lpv:hasSubsequent	lp_eu:2005-04-27-Speech-3-1332
lpv:speaker	lp:Wolf Klinz2
lpv:spokenAs	member; Delegation to the EU-Mexico Joint Parliamentary Committee (2004-09-15--2009-07-13)3 substitute; ITRE (2004-07-22--2006-07-04)3 substitute; Delegation for relations with Switzerland, Iceland and Norway and to the European Economic Area (EEA) Joint Parliamentary Committee (2004-09-15--2009-07-13)3 unknown; Freie Demokratische Partei - Die Liberalen (2004-07-20--2009-07-13)3 substitute; Delegation for relations with the Palestinian Legislative Council (2004-09-15--2007-03-13)3 member; ALDE (2004-07-20--2009-07-13)3 member; ECON (2004-07-21--2007-01-14)3
lpv:translated text	". Madam President, Commissioner, ladies and gentlemen, with a few exceptions, the measures contained in the financial services plan have already been implemented, or are well on the way to being so. So far as one can tell from today’s standpoint, the financial services plan can be described as a success. The question now arises of whether it needs to be followed by a successor, a ‘Post-FSAP’, in other words. The Committee on Economic and Monetary Affairs has considered this issue in an own-initiative report. It is vitally important that this House should make its opinion known at this early stage. The European internal market in financial services is still a long way from being complete, lagging well behind the internal market in goods. What we do know is that it is particularly in the retail markets that much more remains to be done, while the question has been repeatedly raised as to whether the financial services industry might not be entitled to a break from regulation after making such efforts. It is also raised in the own-initiative report by the Committee on Economic and Monetary Affairs, although the rapporteur has today answered it firmly in the negative. The text agreed on by the Committee on Economic and Monetary Affairs is largely balanced, and so the Group of the Alliance of Liberals and Democrats for Europe supports it. I have, though, critical comments to make on two aspects of it. The first is that although the work of CESR is, in wide-ranging fields, doubtless something to be welcomed, it must comply with clearly-defined ground rules. There must be better consultation and interaction between CESR and the democratically-elected European Parliament; as its decisions have a considerable impact, the relationship with Parliament, which should be consulted in good time, should be a close one. Secondly, although the big banks are making the case for deliberate and far-reaching harmonisation, it still needs to be clarified to what extent this applies to all sectors of the financial services industry. The Commission should give some thought to this. In this connection, the Liberals and Democrats support the amendment tabled by the Group of the European People’s Party (Christian Democrats) and European Democrats, which is open to various interpretations. Overall, we can endorse most of the rapporteur’s amendments, and I extend warm thanks to Mrs van den Burg for the work she has put in."@en1

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