Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-370"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20081118.30.2-370"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
"Madam President, to reply to the honourable Member, I do not have the exact figure in my head. The orders of magnitude that I am familiar with are really high and the excesses of securitisation, mainly from across the Atlantic and which have spread to Europe, are greater than the GDP of many Member States, or even of the EU. It is really considerable. That is what I can tell you. Securitisation has, therefore, left us to deal with a destabilising shock of an unprecedented severity. That is what I can tell you today.
To reply to Mrs Doyle, I hope here that, as with other issues, we are not totally isolated and that the Presidency is confident. Financial regulation is certainly not an easy matter, Mrs Doyle, but I think that we are making progress. This afternoon, we have had exchanges in your House with the President of the European Commission and we are relatively confident about the action plan as defined by the European Council and as shaped by the whole of Europe at the informal meeting of the Heads of State or Government, and then guided by the work of the G20 this weekend in Washington.
There is no longer any argument, I would say, at least about the theory. We have to deal with this lack of regulation. There is no need or desire for more regulations, but we have to adapt some of them and need to ensure there is a system which is secure and transparent for savers and investors. I think the whole world agrees with us on this. Thereafter, it is a question of adjustment."@en1
|
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples