Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-11-18-Speech-4-311"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"1999-11-18"^^xsd:date2
dcterms:Is Part Of	lp_eu:Losses under loans for projects outside the Community2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.19991118.17.4-311"2
lpv:hasSubsequent	lp_eu:1999-11-18-Speech-4-3122
lpv:speaker	lp:Paulo Casaca2
lpv:spokenAs	unknown; Partido Socialista (1999-07-20--2004-07-19)3 member; PES (1999-07-20--2004-07-19)3 member; BUDG (1999-07-21--2002-01-14)3 substitute; CONT (1999-07-22--2001-12-11)3 substitute; Delegation to the EU-Slovenia Joint Parliamentary Committee (1999-10-08--2002-01-14)3 member; Delegation for relations with Switzerland, Iceland and Norway (1999-10-06--2002-01-14)3
lpv:translated text	"Mr President, the succession of earthquakes that have wrought destruction on north-eastern Turkey have led us to consider it crucial to increase the sums allocated to that country, and therefore, we voted, on the first reading, in favour of a revision of the financial perspectives which include emergency support for Turkey on a par with the priority that we gave to the reconstruction of East Timor. In addition to this budgetary boost, it is also essential to strengthen support for Turkey by means of credit on favourable terms, and we therefore support the rate of risk cover by the Community budget. At the same time, it was with a certain amount of pleasure that we received the news, recently, that the European Investment Bank has finally accepted the scrutiny of its management by Community institutions. In any event, we think that it is essential for the forthcoming revision of the Treaty to establish the European Investment Bank as an institution under the full control of the Community, under the supervision of the Court of Auditors and the European Parliament, so that it does not merely answer to a general assembly of Member States, as it seeks to do at the moment. As soon as all the Bank’s activity is supported by a considerable Community budget effort, which guarantees the risks linked to banking activity, the scrutiny of its accounts must be developed with the utmost rigour and care. When both Parliament and public opinion were surprised at information published in the press, according to which an institution that we thought was involved entirely in structural investments had lost very considerable sums in short-term speculative operations, it became clear that there was a need to scrutinise the EIB’s investment policy thoroughly. The multiplying effect of a banking guarantee means that investments resulting from EIB credits are of crucial importance in the context of policies subsidised by the Community budget. It would not, therefore, be reasonable, through this guarantee, to support different policies from those decided on by the European Union. This is not a question of interfering in commercial lending policy, a matter which is the sole competence of the EIB’s management, but merely of guaranteeing respect for democratic decisions and for stringent, transparent rules. The EIB is the trustee of a valuable Community inheritance, both from the point of view of the actions that it has helped to implement and from the point of view of the amounts of money that it has accumulated. We are sure that the EIB will continue to play this role in the future."@en1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph