Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-073-000"

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"Mr President, I agree with the rapporteur that the turbulence in the financial sector has resulted in serious problems not only for our citizens, but also for most of our businesses. It is therefore quite legitimate to debate an update to the regulations on handling the savings of European citizens in banks, insurance companies and other financial institutions. However, one important conclusion of the debate should be to support the responsible and safe administration of the savings of our citizens, and to eliminate all speculative and risky transactions in which the savings or future pensions of small savers disappear into the pockets of speculators. This should involve, first of all, better and more comprehensive regulations, which are accepted globally, and which would exclude speculation and gambling from the financial sector, without unnecessary damage to savers or clients. We should not talk about sanctions or special taxes until we have completed the thorough reform of our financial sector, which, unfortunately, commands little trust today."@en1
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