Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-11-21-Speech-4-125"
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"en.20021121.4.4-125"2
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".
EU policy aims to give more elbow room to people at the helm of international companies, who are seen as magicians with the ability to guarantee prosperity and prompt economic growth. During the time when share prices soared sky-high, these magicians were even allowed to line their own pockets quite handsomely with share option schemes. Moreover, they are being encouraged to take on important government functions in the areas of postal services, energy supply and public transport. Meanwhile, we have been able to witness in America what these magicians are capable of. In some cases, the successes ascribed to them and the options paid out to them are based on forgeries. Measures are now being taken in America to increase control, not so much to curb the omnipotence of large companies, as to restore investor and consumer confidence. An initiative of this kind is also currently being proposed for the EU. My support for it is mainly due to the lack of anything better. Without changing the way in which the economy is organised, even the appointment of large numbers of inspectors would not solve the problems. We would then be wasting Community funding on bureaucracy. What is positive is the proposal to set up a common database collating the most important information pertaining to European financial institutions' business data and making it accessible to the public."@en1
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