Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-047"
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"en.20090422.4.3-047"2
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"Madam President, three brief points are important in my eyes. Firstly, we have achieved a sound consensus on the need to subject all financial institutions, without exception, to regulation in future. The Commission is now able, little by little, to put forward proposals encompassing all actors – which is absolutely essential.
Secondly, we should consider how to develop the European financial supervisory authorities thus necessitated and bring them under our control, and to significantly reduce our dependence – be it official or unofficial – on the regulatory institutions of the United States, since we know these to have been a spectacular failure.
My third point is that I am concerned about financial developments in the euro area as a whole, as the spreads and indebtedness between the various countries of the euro area and the credit rating activities of these countries are growing apart rather than together. We should take every possible measure in this regard, and should require the individual countries to enforce discipline.
My final point is that we need to ensure that the EU does not end up falling into debt. The EU Member States are deep enough in debt as it is. We do not need any more indebted institutions."@en1
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