Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-376-077"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-05-11"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20110511.28.3-376-077"2
lpv:hasSubsequent	lp_eu:2011-05-11-Speech-3-376-0692
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 voted against for the following reasons. The report does not accept that the financial crisis of 2007-2008 was systemic in nature: in other words, that it stemmed from the way the financial system is organised. This would mean acknowledging that the way the system is organised strongly influences the decisions of the financial companies’ directors, whatever the levels of transparency required of them. For example, the report fails to recognise that the commercial banks’ ability to make money from speculative financial investments was a very important factor in the crisis. The report does not touch on this organisational issue, and no amount of risk boards or competence criteria for directors can avoid the harmful consequences of speculating on families’ savings for profit. The ‘herd behaviour’ of the financial markets is an inescapable phenomenon, leading to speculative bubbles which later burst."@en1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph