Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-24-Speech-3-458"
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"en.20080924.37.3-458"2
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"Commissioner, today’s world financial crisis reveals how important fair value, the real value of a company, is for the healthy functioning of financial markets. This is vital information for shareholders and creditors. A monitoring committee could make a contribution to better transparency and comparability of financial reporting and thus to the personal responsibility of shareholders for correct economic decisions. International standardisation clearly leads to the development of cross-border capital markets and, therefore, in the interests of stability, the monitoring group should also implement preventive measures against cyclical trends and help to prevent systemic risk. Of course, the proposal to establish the group has not been subject to questioning. Its powers have not been explained, for example whether it will also have a supervisory function. I also consider it important that every country should have a delegate in the proposed monitoring group, which must also include representatives of important institutions so as to reflect the size of the most important world monetary areas, cultural diversity and the interests of the developed and developing economies and international institutions that are answerable to public bodies. It is a pity that Parliament was not consulted in advance as a matter of course."@en1
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