Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-265"

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"en.20100707.23.3-265"2
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"I voted in favour of Mr Giegold’s report on establishing a European Securities and Markets Authority (ESMA). As I have already confirmed and repeated even today, I agree that Europe needs to become stronger and to have one level playing field. We live in a global market that needs global rules. Establishing a European Authority is an enormous step towards strengthening the single market and facing up to the challenges posed by third country giants. With regard to ESMA, too, I have a serious reservation, and it concerns the need to rule out any suggestion of tax obligations in the form of direct taxes or contributions. I am in favour of the new tasks to be assigned to ESMA in view of what is established not only by the supervisory package, but also by the resulting legislation on hedge fund managers. Another important innovation is the power that the new authority will have over international rating agencies. I hope that the Commission’s next legislative proposal along these lines will be well balanced and approved quickly."@en1

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