Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-402-500"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-11-20"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20121120.28.2-402-500"2
lpv:hasSubsequent	lp_eu:2012-11-20-Speech-2-402-7502
lpv:speaker	lp:Sergio Paolo Francesco Silvestris2
lpv:spokenAs	substitute; BUDG (2012-01-19--2014-06-30)3 member; AGRI (2012-01-19--2014-06-30)3 substitute; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2014-06-30)3 member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3 member_of_the_bureau; EPP (2012-02-03--2014-06-30)3 unknown; Il Popolo della Libertà (2009-07-14--2013-12-11)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3
lpv:translated text	"When we talk about the shadow banking system, we are referring to a credit intermediation system that allows money to move around in the absence of rules and outside the confines of traditional banking channels. This is a system that is growing at a rate of 6 000 billion US dollars a year. Much of the blame for the current crisis, which has brought the global financial system to its knees, has been laid with the operations performed by this system. I think we need a regulatory framework that can stop any dangerous practices. We have a duty to evaluate the appropriateness of new and profound changes that will correct the lack of transparency and clear rules. The regulation and supervision of credit activities that take place within the shadow banking system will enable us to prevent the risk of future crises and guarantee financial stability. Given the necessity of defining the application of this parallel system and identifying the risks it involves, I voted in favour."@en1

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