Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-043"
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"en.20081008.14.3-043"2
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"Madam President, President-in-Office of the Council, let me say what a pity it is that the minister responsible for the Ecofin Council is not here. She is the President of this Council and is calling for strong European cooperation. I think her rightful place today was among us.
President of the Commission, I hear you and I am not going to copy those who say it is all just words, but all the same, when have I really seen you mobilised on these issues since the crisis began? You have come here on occasion with proposals, when you felt that within the Member States, particularly the largest (I am thinking of France and Germany on the issue of sovereign wealth funds), there might be trouble. You came with a proposal drawn up within your own cabinet, independently of the Commissioner in charge, Mr Charlie McCreevy.
However, since then, I have not really had the impression that you are particularly mobilised. Anyway, I wanted to ask you something: where today have you hidden the Commissioner responsible for the state of the financial markets? I am wondering why he is not at your side. I am pleased to see our friend Joaquin Almunia beside you, but I find it a little strange that the Commissioner responsible is not here.
As for the Commissioner responsible, in July 2007, when all his services were mobilised, what did he do about informing us that the situation for the European banks was going to be dramatic, that the aftermath of this crisis for the European economy was going to be dramatic? Your services were told. That was the moment, Mr Barroso, to come with proposals that would have made it possible to reassure European savers on the deposit guarantee, on how we were going to manage these difficult situations. Where was your Commissioner then?
You are delighted that the Commission – listen to me, Mr Barroso – was invited to sit on the Financial Stability Forum. Did you know that when the Forum met last Monday, your Commissioner, Mr McCreevy, did not go because he was in Dublin? What did he say when the country he comes from decided to go it alone on the question of deposit guarantees in the sector for which he is responsible in the Commission?
You tell us there is resistance within the European Council, but do you really need to await orders from the finance ministers to set up a deposit guarantee scheme or to look at how accounting standards will be applied at European level?
Mr Barroso, it is your political responsibility today to demonstrate courage, leadership and initiative. Up to now, I have seen no such thing."@en1
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