Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-14-Speech-2-524"

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"en.20101214.37.2-524"2
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"Firstly, I would like to congratulate the rapporteur on the preparation of this very important document. To date, much has been done as regards the creation of a system for financial control and its operation in the European Union. Credit rating agencies play a very important role as they have a direct impact on the operation of the financial system, its soundness and stability. I feel that one major problem is the fact that the EU financial supervisory authorities being set up do not yet have real powers which would enable them to have a direct impact and to take binding decisions. I therefore support the proposals giving one of the European supervisory authorities, in this case, the European Securities and Markets Authority, greater powers to ensure and monitor the transparency of the work of credit rating agencies certified by the EU in order to avoid distortions of the principles of the financial market and the single internal market."@en1
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