Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-04-27-Speech-4-189"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-04-27"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20060427.48.4-189"2
lpv:hasSubsequent	lp_eu:2006-04-27-Speech-4-1902
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	substitute; Delegation to the Euro-Mediterranean Parliamentary Assembly (2004-09-15--2009-07-13)3 unknown; Coligação Democrática Unitária (PCP-PEV) (2004-07-20--2009-07-13)3 vice-chair; EMPL (2004-07-22--2007-01-14)3 vice-chair; EUL/NGL (2004-07-20--2009-07-13)3 substitute; AGRI (2004-07-21--2007-01-14)3 member; FEMM (2004-07-21--2007-01-14)3 substitute; Delegation to the EU-Romania Joint Parliamentary Committee (2004-09-15--2006-12-31)3 member; Delegation for relations with Mercosur (2004-09-15--2007-03-13)3
lpv:translated text	". This report is indicative of the increasing domination of the financial sphere over that of the real economy. The primary objective of the measures put forward to amend the legal structure of undertakings for collective investment in transferable securities (UCITS), and the investments thereof, is to increase the cross-border trade in investment funds. The intention is also to remove all obstacles, including tax obstacles, with the aim of maximising the profitability of these funds, including fund mergers. In order to facilitate this trade and to increase competition, the plan is to harmonise the prospectuses and rules on consumer protection. The report also seeks to expand the areas of investment into transferable securities, which will lead to greater risk for investors. The proposal is to bring the financial markets and the investment funds model in the EU closer to that of the USA, which forms part of the drive towards financial globalisation. It is no surprise to find that pension funds come top of the list of priorities. This money-making scheme, which sucks the manufacturing economy dry and tramples over the rights acquired by many workers, maximises the profits of the banking industry and management companies, whilst increasing the risk of financial and economic crises. We therefore voted against."@en1

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