Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-22-Speech-1-099"
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"en.20080922.19.1-099"2
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"Mr President, with regard to the immense and tragically topical issue we are discussing, I should like to focus on a single question: is there a right and a left answer to the issue we are considering? Is there a right and a left way out of the crisis? Many would say, and indeed some of us today have said, that there is not – that everyone here must agree on such questions, which are technical and economic.
Apart from the fact that those who say this are nearly always on the right, I want to say that the dividing lines here – and the reports show this – are very clear. What is the perspective of the left? That the market cannot regulate everything on its own and regulation by state power is required – and regulation even means prohibitions. Why should we not think about what was said previously in the Katiforis report: that credit-rating agencies must only provide ratings and all other activities should be prohibited; that transparency is important, not for the markets, but for citizens? Here we must think about the fact that pension funds must have special supervision.
Lastly, that it is highly crucial that state intervention takes place not at the end, as is now happening in America, and the American people are paying for it, but at the necessary moment so that the crisis is avoided."@en1
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