Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-09-16-Speech-3-046"
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"en.20090916.4.3-046"2
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"The G20 Summit in Pittsburgh will be taking place practically on the first anniversary of the collapse of Lehman Brothers bank. This is the background against which world leaders should operate. The repercussions of the crisis have been felt by the inhabitants of almost every part of the globe. The primary aim of the G20 Summit should be to minimise the risk of the crisis caused by the deregulation of the financial markets from repeating itself. The G20 leaders face the task of creating regulation which will prevent further speculative banks from emerging and, to put it bluntly, swindling millions of customers of financial institutions all over the world.
In the last few months, we have been getting increasingly bad news about managers who brought their firms to the brink of collapse consuming public aid. In the last few years, we in Europe have been witnessing an unprecedented income gap not previously seen in the European social model. One of the tasks of the G20 group should be to level out incomes in Europe and on a world scale. The financial sector needs to have rules making bonuses dependent not on short-term profits, but on long-term returns on investments.
The leaders of several European countries as well as of the European Union as a whole will be present at Pittsburgh. That is why Europe should speak with one voice at the summit. I appeal to the representative of the European Union to remember that the interests of the Community include the interests of Member States which will not have national representatives at the summit."@en1
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