Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-12-16-Speech-3-054"

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"Mr President, first I would like to praise the chair for the approval of the Baltic Sea Strategy, which is certainly very important for my home country. I would, however, like to speak a bit longer on three points regarding the subject of finance. First, I would like to express thanks for the efforts made on the regulation of the trans-European financial system, and also to call on the European Parliament, for its part, to give maximum support to this. Second, in order to control the financial crisis, the European Union and its Member States have implemented a large number of exceptional measures, which is very positive. It is already possible to see stabilisation in the economy. At the same time, I agree with the Council that the situation is not yet secure enough for us to give up the support measures. The consequence of the crisis, for me, is definitely the fact that banks are necessary and the services they provide are necessary. It is not necessary, therefore, to go too far in punishing them, but banking activities should be based on what is happening in the real economy, not on an inter-bank virtual market, which was the main reason for the recent crisis. At the same time, we need to consider the payment of bankers’ bonuses, an issue which has become a particularly important topic in Estonia. Third, in relation to this, I support the appeals to the International Monetary Fund to consider instituting a charge on global financial transactions – the Tobin tax – in order to give back money to society in the boom times. I support the necessity of renewing economic and social agreements between financial institutions and the society they serve, and to increase the benefits to society in good times and protect it from dangers."@en1
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