Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-12-Speech-1-169-000"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20110912.24.1-169-000"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Madam President, ladies and gentlemen, in the economic crisis into which we have been driven precisely by the audit system, or in which the audit system has played such a key role, it is symptomatic that this oligopoly of the four credit rating agencies has still not been seriously targeted with legislation by the European institutions. I should therefore like to congratulate Mr Masip Hidalgo for having addressed the matter in his report and for having attempted to push forward this issue, which is certainly not taboo. Spending a lifetime waiting for these firms to suddenly meet ethical standards out of the blue that they decide to follow alone is not an option; nor is it a future for our economies or for the credibility of our banking systems or the European markets.
We can only hope that a public supervisory body will assess the credibility of these audit agencies. However, I believe that even more needs to be done: the audit system itself needs to be pluralistic; the audit firms must not all be stimulated and motivated in the same way, as they are essentially being paid by their customers and speculators; and furthermore they must not be replaced by a mere public system that has little credibility itself. They must be tempered with real pluralism, which emerges, for example, from the academic and university system, from statistical institutes and from European audit agencies, and all of these audit centres must be regulated in order to create a real pluralistic and credible audit system."@en1
|
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples