Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-07-Speech-4-335"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-10-07"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20101007.29.4-335"2
lpv:hasSubsequent	lp_eu:2010-10-07-Speech-4-3362
lpv:speaker	lp:Bruno Gollnisch2
lpv:spokenAs	unknown; Front national (2009-07-14--2014-06-30)3 member; NA (2009-07-14--2014-06-30)3 substitute; BUDG (2009-07-16--2012-01-18)3 member; Delegation for relations with Japan (2009-09-16--2014-06-30)3 member; TRAN (2009-07-16--2012-01-18)3
lpv:translated text	"Attempts to improve the international financial system, at Basel Committee, G20 and European Union level, seem to me to be of no use at all. The September agreement on the volume and quality of capital that banks are required to hold was welcomed as a great advance and a great victory over a sector that was set against these measures and threatening to cut off the supply of credit. It was a Pyrrhic victory apparently, since, following the agreement, stock exchange prices for the sector scarcely increased, which was not a good sign. The banks have until 2019 to comply with the new provisions and, in the meantime, anything can happen. Risk analysis, which we already know to be utterly ineffective, remains central to this system. The problem of liquidity and leverage ratios has not been resolved, any more than that of off-balance sheet assets and securitisation. Financial institutions which do not receive funding from the public sector, such as hedge funds, are not affected despite how dangerous they are and their perverse way of operating. In short, nothing has been resolved, nor will it be without fundamentally changing the system instead of trying to patch it up."@en1

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