Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-390"
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"en.20100706.28.2-390"2
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"Madam President, Commissioners, European supervision of financial markets is the minimum that we can do. It will require the regulation of rating agencies. We have seen what the instruments of speculation against states are, but the supervisory authorities that we have to introduce must not repeat the same mistakes by being both judge and jury. As a result, the issue of control has not been resolved: the control must be political. This regulation is necessary but not sufficient if we do not supplement it with an economic governance of the euro area and the European Union which goes beyond the Stability Pact. It is also insufficient if we do not take real measures against the flight of capital to tax havens. Finally, this European supervision will be insufficient if we do not take measures so that the regulation is also implemented at a global level.
A regulation at the European level is useful, but insufficient. We must have global supervision of financial markets."@en1
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