Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-07-06-Speech-3-461"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2005-07-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Clearing and settlement in the EU2
dcterms:Language	"nl"^^xsd:language2
lpv:document identification number	"en.20050706.34.3-461"2
lpv:hasSubsequent	lp_eu:2005-07-06-Speech-3-4622
lpv:speaker	lp:Johannes Blokland2
lpv:spokenAs	substitute; TRAN (2004-09-15--2007-01-14)3 member; LIBE (2004-09-14--2007-01-14)3 substitute; Delegation for relations with the People's Republic of China (2004-11-18--2006-12-12)3 vice-chair; ENVI (2004-07-22--2007-01-14)3 treasurer; IND/DEM (2004-07-26--2007-02-12)3 member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2004-09-15--2009-07-13)3 member; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2004-09-15--2009-07-13)3 unknown; ChristenUnie - Staatkundig Gereformeerde Parti (2004-07-20--2009-07-13)3
lpv:translated text	". Mr President, I find myself wondering if the Commissioner feels at home in amongst all these women. I do not mind admitting that I rather do. Recent years in the European Union and the United States have shown that financial markets are very sensitive and sometimes react strongly to external developments. The stability of the markets cannot be taken for granted, but the effective management and smooth settlement of transactions on the basis of clear legislation does help to foster it, and so Mrs Kauppi’s report on promoting the efficient settlement of securities transactions does deserve our undivided attention. Securities trading is organised in complex ways, and it is also difficult to monitor. Solutions imposed by means of a directive do not always produce the desired outcome. I should like to stress that solutions must be transparent and verifiable if confidence in the financial markets is to be maintained. In this connection, it is vital to monitor the development of aspects of competition. The resolution of 2003 contains the urgent request for more studies into aspects of competition with a view to developing a transparent market for the settlement of securities transactions. I should like to back the rapporteur’s comments on the ramifications of introducing a directive. The aim is to remove the Giovanini obstacles, but those can also be kept in check without a directive, by means of coordination and consultation. I should also like to point out that another cross-border issue, the removal of obstacles to cross-border payments, was tackled very successfully at the time and also involved a complex number of organisations, rules and interests, thus demonstrating that it is possible to remove obstacles that appear virtually insuperable. It is therefore time for the numerous settlement costs that hamper the internal market for securities in its cross-border activities to be done away with. Finally, I should like to thank Mrs Villiers and Mrs Kauppi once again for the work they have done on this directive. I think they have produced an excellent piece of work that will help us move forward."@en1

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