Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-23-Speech-1-155"

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"Mr President, on the occasion of this debate on the adaptation of the Prospectus and Transparency directives regarding the road map negotiated by Mr McCreevy with the US authorities, we are in a position to review the way in which the IFRS have been implemented. The greatest caution must be exercised in relation to this matter. One of the great contributions, I believe, of this Parliament is the way in which it ensured, during the equivalence negotiations, that there was genuine equivalence and not just a deadline that would elapse before it was finally pointed out that, where there were once differences, there would now be equivalence. As you know only too well, Commissioner, this issue is all about negotiation. You have succeeded in getting the Americans to commit themselves to reconciliation at the end of the time period and, when that time period expires, you will remain empty-handed if, in the meantime, this Parliament has not helped to consolidate the matter so that, in the end, we secure an acceptable recognition of equivalence. I very much regret the fact that we were unable, before this plenary session, to organise with our colleagues from the US Congress the videoconference that I proposed, that my fellow coordinators accepted and that would have enabled us, together with the US political authorities, to hold the necessary debate on the latter’s ability to comply with this road map that you have made your own, Commissioner."@en1

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