Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-308"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20100615.24.2-308"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"I should like first of all to congratulate my friend and colleague, Mr Langen, on the draft report put to the vote today in this House.
In the light of the financial and economic crisis, we have observed the dangers posed by certain financial instruments that are shamelessly used by the markets without any rules or restrictions. Many citizens and numerous local authorities, including in Italy, have fallen victim to these high risk instruments, and are now finding themselves with alarming budget deficits.
In order to prevent such unfortunate situations, I believe it is appropriate, indeed necessary, to regulate derivatives properly, so as to have a more stable and secure market that enables operators and consumers to take informed decisions. The European Union must become the champion of a radical change from the financial policy of the past and must send out strong signals to prevent instruments such as over-the-counter derivatives from being able to jeopardise the entire financial market in future.
Lastly, I support the guidelines set out by Mr Langen in the text adopted today, not least because financial derivatives are not just the prerogative of professionals in the sector, but are instruments for mass-market use. For this reason, stricter legislation will guarantee greater transparency, enabling ‘market participants to price risks properly’."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples