Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-532-000"
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"en.20111115.31.2-532-000"2
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"Mr President, I will also start on a positive note. I would like to thank the Commission for its determination in this difficult period, because planning a programme in such turbulent times really is difficult. On the other hand, this is the Parliament, and our job is to warn the Commission about any errors in this planning, and I would therefore like to mention two points I consider important.
First, the Commission must focus on adopting tough financial market regulation. It is absolutely vital for measures aimed at improving the resilience of the financial system to be supplemented in the future with measures aimed at limiting risk, such as measures for reducing costs in the event of failure.
The second point I would like to mention is something that we in Parliament recommended to the Commission a few months ago in similar circumstances. It will be necessary to subject to regulation businesses that are closely connected with banking systems and which provide similar services without being subject to the same legislation. It is necessary to bring under surveillance so-called shadow banking, which now genuinely competes against official banking in its volumes.
The final statement I would like to make also relates to this morning’s debate. It concerns the need to adopt measures for combating worsening poverty and social exclusion."@en1
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