Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-15-Speech-2-069"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20080115.7.2-069"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Mr President, ladies and gentlemen, let me begin by thanking the rapporteur and, of course, the Commissioner too, who has played a highly constructive role in this complex matter.
Mrs Wallis referred to the fact that this dossier has been what I like to call haunting the corridors of the European Parliament and the other European institutions for more than seven years, and in my opinion these have not been seven years of transparent legislating or seven years of better regulation but a muddle that very few Members of this House have yet managed to untangle.
In this respect I do not believe we have done any great favours to the European consumers and citizens who have had to watch this backstage wrangling among the Member States, but if this final outcome provides greater transparency for consumers who wish to buy a car, for example, enabling them to make an informed choice between a hire-purchase agreement and a personal loan, I believe it will be useful.
Reference was made here to the fact that the European credit market is worth EUR 800 billion and that the differential between the highest and the lowest interest rates is about 6%. There is, of course, a lot of mileage in this, and it is to be hoped that consumers will be able to benefit from the available scope too, but I have good reason to be sceptical. The fact is that a consumer who wants to buy a digital camera for EUR 220 and then has to complete a ten-page credit form in writing will scarcely be able to comprehend all the risks involved in a credit transaction for EUR 220.
The result, in my view, is that much of what is meant well in this package will not ultimately help the average vulnerable consumer but will create such difficulties for consumers that they will even prefer not to buy anything on credit terms to avoid the daunting task of completing the extensive set of forms. That remains my view, and I hope that the variations in interest rates will become more transparent for consumers and that this will be of benefit, although I still believe that the preceding process has been unacceptable."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples