Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-28-Speech-3-279-000"
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"en.20120328.23.3-279-000"2
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"Mr President, corporate governance by self-regulation is clearly not working. The financial crisis is evidence of this, if it were needed. Since 2008 Parliament and the Council have taken responsibility, and agreed a raft of measures to better regulate the financial services sector. The process has started and needs to continue, but equally there needs to be a complete overhaul of the entire corporate governance framework. When confronted with corporate governance scandals too often the response is that these were isolated cases, things are different now, but sadly this is not the case.
I am concerned that the report that we have in front of us, while it is welcome, does not go far enough. I believe that we need to move beyond the mere ‘comply or explain’ principle. We need a system of clear binding rules and sanctions, particularly on issues such as workers’ rights and gender balance. Making good corporate governance is not an optional extra. For that reason I cannot support the report as presented and will be supporting the amendment from the S&D Group and the Greens."@en1
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