Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-039"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-04-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Credit Rating Agencies - Reporting and documentation requirements in the case of merger and divisions - Insurance and reinsurance (Solvency II) (recast) (debate)2
dcterms:Language	"el"^^xsd:language2
lpv:document identification number	"en.20090422.4.3-039"2
lpv:hasSubsequent	lp_eu:2009-04-22-Speech-3-0402
lpv:speaker	lp:Margaritis Schinas2
lpv:spokenAs	member; BUDG (2007-10-11--2009-07-13)3,3 member; Delegation to the EU-Turkey Joint Parliamentary Committee (2007-10-11--2009-07-13)3,3 member; EPP-ED (2007-10-01--2009-07-13)3,3 unknown; Nea Dimokratia (2007-10-01--2009-07-13)3,3 substitute; ECON (2007-10-10--2009-07-13)3,3
lpv:translated text	"Madam President, there can be no doubt that in Europe we are today suffering the consequences of an anarchic, eccentric American/Anglo-Saxon model of organising the financial markets, which learned how to function without rules, without supervision and without democratic accountability and which, of course, polluted the global and European economy. With the texts which we are debating today and will vote on tomorrow, we are building a protective shield here in Europe for the citizens. A protective shield which will safeguard them from this paradox in which we are currently living, where money flows are supranational and the rules of supervision and accountability, where there are any, are national. So Europe is reacting, albeit slowly, but better late than never. This, of course, leaves two major questions which need to be answered. The first question is: why did we need to live through a crisis in order to react? Why did we need to wait for all this to happen in order to introduce rules? The answer will be given by the citizens, by rewarding those who are calling for legislation and punishing those who wanted to persuade us that self-regulation is the panacea for all the evils we are experiencing today. The second question is, will these texts that we are debating today be the only ones or will there be overall supervision and an overall review of the legislative and regulatory framework? The answer to this second question will be given by us because, as co-legislators, we shall exert pressure so that we do not just stay with the Gauzès report on credit rating agencies, which failed to see the iceberg coming towards the Titanic, which is why what happened did happen, but which quickly saw that certain Member States needed to be downgraded because they did not ‘allegedly’ have an adequate credit rating. We need to examine and correct all this from the beginning: nothing will remain the same in the European Union after the current crisis."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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