Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-041"
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"en.20090422.4.3-041"2
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"We can see from current events the influence large financial groups, and the mistakes they make, have on the real economy, especially the economies of small countries. Therefore, the documents presented should create a legal framework to manage two main processes: firstly, to harmonise the free pro-cyclical movement of capital within a financial group with the necessity to ensure the liquidity of the real economy and macroeconomic stability during the economic recession; secondly, to help share responsibility between home and host supervisory institutions, to ensure that a financial group’s activities are appropriate, and to clarify who will cover losses if mistakes are made.
It must be said that the document presented is only the first step in this direction, and I would like to stress that these problems will not be solved unless the impact of competition law on the activities of financial groups is assessed. We always forget this aspect and it should be a priority in the new term of Parliament."@en1
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