Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-25-Speech-2-415-500"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-10-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20111025.25.2-415-500"2
lpv:hasSubsequent	lp_eu:2011-10-25-Speech-2-415-7502
lpv:speaker	lp:Juozas Imbrasas2
lpv:spokenAs	member; TRAN (2009-07-16--2012-01-18)3 member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 member; EFD (2009-07-14--2014-06-30)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 unknown; Partija Tvarka ir teisingumas (2009-07-14--2014-06-30)3 member; Delegation for relations with the Korean Peninsula (2009-09-16--2012-02-14)3 member; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; REGI (2009-07-16--2012-01-18)3
lpv:translated text	"The main agent for restoring balance to the global economy is comprised of two elements: enhanced competitiveness and wide-ranging reforms fostering growth in deficit countries and the opening of markets and sound monetary policy in surplus countries. There are a plethora of international organisations designed to govern the global economy, such as the International Monetary Fund (IMF), the World Bank, the World Trade Organisation, the United Nations Conference on Trade and Development (UNCTAD) and the International Finance Corporation (IFC), alongside the intergovernmental fora of the G7 and G20, of which the IMF and G20 are the most effective bodies, although both still need to be improved and global markets require global rules. Globally, it is recognised that some sectors of the financial industry contributed to the global financial crisis, revealed weaknesses in financial management and deepened the sovereign debt crisis, and there is a broad consensus that the financial sector must bear a greater responsibility, to include covering a certain amount of the losses caused by the crisis. I welcomed this document because the lack of coordinated and effective regulation and supervision of the global financial system led to weaknesses in the financial sector which subsequently exacerbated the vulnerabilities in the global economy, and I therefore believe that decisive action must be taken to prevent a repeat of similar crises in the future."@en1

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