Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-233"

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	"pt"^^xsd:language2
lpv:document identification number	"en.20100922.20.3-233"2
lpv:hasSubsequent	lp_eu:2010-09-22-Speech-3-9252
lpv:speaker	lp:Miguel Portas2
lpv:spokenAs	member_of_the_bureau; EUL/NGL (2009-07-14--2012-01-22)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2012-04-24)3 substitute; Delegation for relations with Iran (2009-09-16--2012-04-24)3 vice-chair; Special Committee on the Financial, Economic and Social Crisis (2009-10-15--2011-07-31)3 substitute; Delegation for relations with the Mashreq countries (2009-09-16--2012-04-24)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 unknown; Bloco de Esquerda (2009-07-14--2012-04-24)3 member; BUDG (2009-07-16--2012-01-18)3 member; Delegation for relations with Iraq (2009-09-16--2012-04-24)3
lpv:translated text	"I abstained. On the one hand, the compromise reached on macro- and micro-prudential supervision is a step forward compared with the current lack of any EU-scale assessment or regulation of financial risk. On the other hand, however, the solutions put forward are not equal to the problems they are meant to address. The proposal does not give due consideration to the interdependence of the myriad of actors and products that make up the financial system or to their relationship with the real economy. None of that can be reduced to the sum-of-parts solution that forms the basis of the supervisory architecture. Moreover, we cannot avoid the fact that the European Central Bank may itself be a systemic risk factor in accepting bank assets as security for its loans. Lastly, the European Systemic Risk Board ends up being the weak link in a system that concentrates effective power in the arrangements made between states in their own interest, thus extending the intergovernmental approach that currently marks European integration to the financial sphere."@en1

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