Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-07-02-Speech-2-685-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2013-07-02"^^xsd:date2
dcterms:Is Part Of	lp_eu:Reforming the structure of the EU banking sector (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20130702.54.2-685-000"2
lpv:hasSubsequent	lp_eu:2013-07-02-Speech-2-686-0002
lpv:speaker	lp:Syed Kamall2
lpv:spoken text	"Mr President, first of all, can I thank the rapporteur for achieving a good cross-group consensus on some of the issues. I think we all agreed that nearly six years after the collapse of Northern Rock in the UK, and nearly five years after the collapse of Lehman Brothers, we still have not tackled the fundamental problem. Yes, we have created all these new European supervisory agencies and we have created European supervisory architecture, which we like to boast about, but we have not tackled the fundamental problem that if a bank went bust tomorrow it would still want taxpayers’ money to bail it out. This should have been job number one. We have not done that and we are coming late, as Phillipe Lamberts said, but at least we are tackling this issue now. It was good that across Parliament we were able to achieve a principled approach. There are three particular issues that I am especially pleased that we managed to get agreement on. The first was no taxpayer bailout, and, where there is taxpayer bailout because of politics or for whatever reason, let us make sure we are not using deposit guarantee schemes or anything else from the retail side to subsidise investment banking. Let us make sure that when a bank collapses, people can still continue to take their money out and pay their bills so you do not get civil unrest. The second issue is the issue of director liability. I have no objection to people earning lots of money if that is what banks want to pay them and shareholders pay them, but when they fail they must be prepared to pay the price of failure. Thirdly, we have to tackle the issue of accounting standards. Let us ensure that no longer do banks put profits up front and not make provision for losses. They should make those provisions for losses now."@en1
lpv:spokenAs	substitute; INTA (2012-01-19--2014-06-30)3 member; PECH (2009-07-14--2013-11-18)3 member; ECON (2012-01-19--2014-06-30)3 substitute; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3 unknown; Conservative Party (2009-07-14--2014-06-30)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3
lpv:unclassifiedMetadata	"Syed Kamall,"1 "on behalf of the ECR Group"1
lpv:videoURI	<go to Events_and_structure europarl>2

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph