Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-179"
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"en.20081008.21.3-179"2
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"Madam President, amidst the angst and concern about the banking sector there is perhaps some hope. I am glad that the Commissioner for Agriculture is here to listen to me because maybe it is at a time of crisis that Europe can actually rise to the challenge.
Remember the BSE crisis when the entire beef industry and food sector was in collapse and confidence was gone, and Europe reacted by bringing in tough regulations from farm to fork, traceability with penalties.
Let us say to the banking sector, this is their BSE moment, and they will rise from the ashes, but they will have to be better regulated. They will have to be tagged and traced – the people and the money – and those who are engaged in bad practices will have to be penalised.
But there is hope. We have experience, and I believe that Europe will be better as a result of this crisis because we will regulate better."@en1
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