Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-083"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-05-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Credit requirements directives: Directives 2006/48/EC and 2006/49/EC - Community programme for financial services, financial reporting and auditing2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20090506.3.3-083"2
lpv:hasSubsequent	lp_eu:2009-05-06-Speech-3-0842
lpv:speaker	lp:Werner Langen2
lpv:spokenAs	substitute; Delegation for relations with the People's Republic of China (2007-03-14--2009-07-13)3 member_of_the_bureau; EPP-ED (2004-11-14--2009-07-13)3 substitute; Delegation to the Euro-Mediterranean Parliamentary Assembly (2004-12-01--2009-07-13)3 member; ITRE (2007-01-31--2009-07-13)3 substitute; ECON (2007-01-31--2009-07-13)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2008-10-23--2009-07-13)3 unknown; Christlich Demokratische Union Deutschlands (2004-07-20--2009-07-13)3 member; Delegation to the EU-Turkey Joint Parliamentary Committee (2004-09-15--2009-07-13)3
lpv:translated text	"Mr President, I would first like to say that we have started on this second project, which is under discussion today, to put financial market regulation on a normal footing. The financial market crisis can be attributed partly to a failure of the markets and partly to a failure of regulation. We have drawn up a list of measures that must be regulated by the rating agencies. We have adopted resolutions on the Capital Requirements Directive, on managers’ salaries, on hedge funds, on accounting regulations and on the European supervisory structure. Today, we are dealing with the second point. Negotiations are being conducted on the basis of a vote in committee, not in the normal first reading procedure but on the basis of an agreement reached between the Council, the Commission and Parliament. I acknowledge that Mr Karas has achieved many things. However, a large number of fellow Members, like me, are of a different opinion, as Mr Klinz pointed out. This primarily relates to the retention for securitisation. The securitisation market and the financial market crisis arose not least because financial market products without own risk were created. That is why the banks no longer trust each other, because no one has securities for which they take responsibility through risk. The proposal is for a 5% retention. In my opinion, 10% is far more appropriate and that is why I have tabled an amendment. I am certain that the Council, if it accepts all the other things, will have to consider this 10% retention. We, as Parliament, have a responsibility to give citizens further assurances that a global financial market crisis of this kind can never be repeated. That is why I propose and request that we accept the compromise reached by Mr Karas apart from the 10% retention and the deduction of silent capital contributions."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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