Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-09-26-Speech-1-097"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2005-09-26"^^xsd:date2
dcterms:Is Part Of	lp_eu:1. Taking up and pursuit of the business of credit institutions, 2. Capital adequacy of investment firms and credit institutions2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20050926.14.1-097"2
lpv:hasSubsequent	lp_eu:2005-09-26-Speech-1-0982
lpv:speaker	lp:John Purvis2
lpv:spoken text	"Mr President, I too should like to compliment Mr Radwan on the extremely able way in which he has steered this complex directive to this advanced stage. We all hope that the Council of Ministers will now be able to take the steps needed to make a first reading agreement possible. Surely the Presidency can make a supreme effort and undertake to reach a conclusion on the comitology issue to a mutually agreeable timescale. So much has been agreed on the complex, technical issues that it would surely be a shame – in fact, an absurd embarrassment – not to close the remaining gap. It is surely reasonable for Parliament to aspire to a role in the legislative process which is equivalent to that of the other branch of the legislature – the Council. Our constituents expect that. Indeed most of them assume that is already the case. All that we ask is for the Council to assess that aspiration with dispatch. The industry needs timely legal certainty and will not readily forgive either of us – Parliament or the Council – if in the face of all common sense we allow this important directive to fail for what might appear to the outside world to be interinstitutional niceties. I now turn to international considerations. Almost every European banking, insurance and asset management business will be affected by this new regime and will have to shoulder the costs of adjusting their systems. In America, on the other hand, only the largest international banks will have to comply. The competitive benefits will probably induce at least some of their medium-sized competitors to adopt Basel II too. However, even the smaller European financial institutions will have to comply and bear quite substantial financial costs in so doing, while their American competitors, such as asset management firms, will not have to. How will the Commission ensure a level playing field for our financial institutions of all shapes and sizes in the global marketplace?"@en1
lpv:spokenAs	member; Delegation for relations with Iran (2004-10-13--2007-03-13)3 member; Delegation for relations with the Mashreq countries (2004-09-15--2007-03-13)3 member; EPP-ED (2004-07-20--2009-07-13)3 unknown; Scottish Conservative and Unionist Party (2004-07-20--2009-07-13)3 substitute; ITRE (2004-07-22--2007-01-14)3 substitute; Delegation for relations with the Gulf States, including Yemen (2004-09-15--2007-03-13)3 vice-chair; ECON (2004-09-01--2007-01-14)3
lpv:unclassifiedMetadata	"John Purvis (PPE-DE ). –"1

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