Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-269-000"

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"Madam President, I, too, would like to thank everyone, on behalf of my political group, for the excellent cooperation on this dossier. The decision concerning the subscription by the European Union to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) must be accompanied by clear signals from the European Parliament to the other European institutions and Member States about the activity of this bank. This is why, first of all, I think that the European public investment banking system needs to be streamlined. The duplication and overlap of activities carried out in the EBRD and EIB must be avoided. I would like to mention, on this point, the European Parliament Resolution of 25 March 2009, calling for the European public investment banking system to be restructured, including the assessment of the option of dissolving the EBRD and incorporating its relevant sections into the European Investment Bank. We are also expecting an assessment on this to be submitted by the end of the Fourth Capital Resources Review in 2015. I also believe that tighter controls are required concerning the possible movement of EBRD funds via tax havens and the use of the principle of banking secrecy for the benefit of tax evasion. Distortions and shortcomings in a taxation system are mechanisms which enable certain entities to shirk their responsibilities to society. In practical terms, they sustain the state of financial instability by undermining the regulations in force, promote inequality and poverty, and restrict economic growth. A bank financed by the European Union cannot allow itself to work with such institutions. Indeed, the European Parliament clearly advocates transparency and is calling for the details of the assessments made of the projects funded by the European Bank for Reconstruction and Development to also be disclosed to the beneficiaries."@en1
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