Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-22-Speech-1-100"
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"en.20080922.19.1-100"2
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"Madam President, I agree wholeheartedly with what has been said here on the window of opportunity created by Poul Rasmussen’s excellent report. I would say, however, that it would have been even more opportune if it had been politically possible to present it six years ago – and I think Poul agrees with me. Six years ago some of us tried to raise this issue of regulating hedge funds in the European Parliament, and the majority formed by the Liberals and the PPE systematically prevented the Socialist Group from incorporating it into various debates.
We are now experiencing a crisis, a structural crisis as Mr Almunia puts it, a crisis that will end no-one knows where, and one that we cannot turn a blind eye to. We cannot take the position that Commissioner McCreevy has taken, we must – and I want to believe that the Commission is prepared to do this, bearing Mr Almunia’s comments in mind – we must be proactive and must abandon the financial governance model that has regulated the European and global economy in recent years. This is what Poul suggests in his report, and this is what the Commission has the duty – I repeat, the duty – to examine and follow closely."@en1
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