Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-093"

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"Madam President, Commissioner, I said earlier on behalf of my group that we supported the conclusions of the Ecofin Council. I notice that the stock markets have plummeted again today, and that markets across Europe have gone into freefall. These measures are therefore insufficient. On the question of responsibility, I agree with Mrs Kauppi on the fact that there has effectively been a great deal of resistance in the Council, but it is clear that the Commission – yourself in particular – has never been a fan, to put it mildly, of more regulation at European level. Your entire tenure has been dominated by this idea of industry self-regulation. This is why we are lagging far behind in terms of European legislation on the topics under discussion today. In terms of the report that will be put to the vote tomorrow, my group will support all of the amendments tabled, particularly by the rapporteur Mrs van den Burg. From our point of view, these also try to ensure that there will be more binding provisions on securitisation and the mechanisms that hinder speculation. They mean that the Lamfalussy Level 3 Committees are almost a forerunner of this European supervision, of the European supervisor that we want. This is the direction that we would like to move in, and I believe that the Commission, which has a monopoly on legislative initiative, has failed in its duty during this legislature. From this point of view, grandstanding is all very well, but you have very little time in which to get up to speed."@en1
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"en.20081008.15.3-093"2
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