Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-21-Speech-2-097"
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"en.20081021.7.2-097"2
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"Madam President, I would also have preferred to speak directly to Mr Sarkozy and Mr Barroso, in particular because I wanted to approach the President of the Commission, as we have had little success with some of the Commissioners in recent years.
The citizens expect Europe to concern itself with important matters and not with trivialities. Mr Schulz, who has just left the Chamber, has lumped all the Conservatives together. People do not expect to be nannied over minor issues. Instead they want more freedom from regulation for small and medium-sized businesses and for citizens and more action on major questions. I would like to emphasise that the European Parliament has already called on the Commission in 2003 to present a proposal on credit rating agencies. Amazingly the Commission has become aware in the meantime of the term hedge fund, although this undoubtedly is not true of all the Commissioners. The Commission President is now looking into this area.
Mr Schulz made things very simple for himself by stating that only the Conservatives were to blame. In fact it was the Council which over many years prevented any progress being made in the area of supervision. It was the German finance ministers Mr Eichel and Mr Steinbrück. I would like to remind Parliament that the person who was regularly responsible for slowing things down at a European level – and I would ask the socialists to tell their Chairman this – was Mr Koch-Weser, who now holds a good position at Deutsche Bank.
In future we expect Europe to introduce its moral values and priorities into the regulation of the financial markets. This means sustainability, not just maximising the risks in order to maximise the returns. It also means focusing on the fundamentals, as a medium-sized business would do. This is something which we must introduce in an international context. It is not enough simply to hold international conferences. Europe must be united in order to ensure at an international level that something like this does not happen again."@en1
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