Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-423-500"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-05"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"sk"^^xsd:language2
lpv:document identification number	"en.20110705.34.2-423-500"2
lpv:hasSubsequent	lp_eu:2011-07-05-Speech-2-423-7502
lpv:speaker	lp:Monika Beňová2
lpv:spokenAs	unknown; SMER-Sociálna demokracia (2009-07-14--2014-06-30)3 member; Delegation for relations with Israel (2009-09-16--2014-06-30)3 member; LIBE (2009-07-16--2012-01-18)3 substitute; AFET (2009-07-16--2012-01-18)3 vice-chair; S&D (2009-07-14--2012-01-18)3
lpv:translated text	"The issue of short selling and credit default swaps is particularly important from the perspective of maintaining financial stability. It is essential that these provisions take the form of a regulation. They impose a direct obligation on private parties to publish information. They also delegate powers to the European Securities and Markets Authority (ESMA). This regulation respects fundamental rights and complies with the principles recognised, in particular, in the Treaty on the Functioning of the European Union and the Charter of Fundamental Rights of the European Union. Transparency is necessary above all for reasons of financial market stability and investor protection. Another item is the proposed ban on so-called naked short selling. The current debt crisis shows how speculators who do not even hold bonds from a Member State of the eurozone, but only speculate on them, can cause entire states to go bankrupt. It is therefore important that only bond holders can engage in covering securities through credit default swaps. Last but not least, we also need to strengthen ESMA’s powers. I am quite certain that it should be the Ministers of Finance who take decisions in exceptional situations, and not ESMA."@en1

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