Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-229"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"cs"^^xsd:language2
lpv:document identification number	"en.20100922.20.3-229"2
lpv:hasSubsequent	lp_eu:2010-09-22-Speech-3-9332
lpv:speaker	lp:Jan Březina2
lpv:spokenAs	member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 substitute; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 substitute; REGI (2009-07-16--2012-01-18)3 member; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 unknown; Křesťanská a demokratická unie - Československá strana lidová (2009-07-14--2013-06-01)3 member; ITRE (2009-07-16--2012-01-18)3
lpv:translated text	"I voted in favour of the reform of financial oversight in the EU despite the fact that I have many reservations about the decision that was taken. The need for regulation was excessively promoted over the need for a free market environment for banks and the financial sector. The authorities of the national and European regulator are defined quite unclearly and the boundaries between them are significantly blurred. In the best case scenario, this could lead to legal uncertainty on the part of all players in the financial market, in the worst case, to the misuse of authority on the part of the European regulator, against which it will be practically impossible for players to defend themselves effectively. In the absence of a single EU financial market, the existence of strong supranational supervisory bodies endowed with the authority to decide on individual subjects of the financial market in Member States is of questionable legitimacy. If we are so obsessed with regulation in the EU, as we are now witnessing in the case of financial markets, we will have nothing left to do except to stand by while China pushes us from the global playing field. So while we criticise unfair competitive behaviour, for some time, China has not only benefited from generous state subsidies, cheap labour and a failure to maintain environmental protection standards, but has also promoted itself thanks to innovations and modern technologies. And that should be a concern and a warning for us."@en1

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