Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-02-17-Speech-4-022"
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"en.20000217.2.4-022"2
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"Mr President, I see two problems with this morning’s debate. Firstly, when I came to this Parliament many years ago I was told that if you had a difficult job you gave it to a Liberal. Now I have been told that if you have a difficult debate you know you are in trouble if half the Luxembourg Members are in the Chamber at one time – and they are.
Firstly, I welcome proposal No 1. It simplifies things and brings things up to date. I think many of the British Members will be voting against a large number of the amendments in the report.
We support the Schmidt report on proposal No 1, but we regret the fact that the directive sets a lot of quantity limits that restrict the ability to spread risks. We believe that a more liberal market is the best way forward.
Secondly, we consider proposal No 2 to be very confused. It is difficult to understand, and we think the Commission would be well advised to look at it again. If further regulation is needed, we feel that it could be better achieved by other means than those proposed in the directive. In particular, we disagree with the proposal on capital requirements because if they are put too high they could actually drive some businesses out of the industry altogether. We ask the Commission to look again at these proposals.
Finally, we would urge Members to vote in particular against Amendment No 41 on capital requirements, because we feel that this would be very bad for the industry."@en1
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