Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-03-12-Speech-1-169"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2007-03-12"^^xsd:date2
dcterms:Is Part Of	lp_eu:Prudential assessment of acquisitions and increase of shareholdings (debate)2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20070312.21.1-169"2
lpv:hasSubsequent	lp_eu:2007-03-12-Speech-1-1702
lpv:speaker	lp:Margarita Starkevičiūtė2
lpv:spokenAs	unknown; Liberalų ir centro sąjunga (2004-07-20--2009-07-13)3 member; ALDE (2004-07-20--2009-07-13)3 member; Delegation for relations with Japan (2004-09-15--2007-03-13)3 substitute; CONT (2007-01-31--2009-07-13)3 substitute; Delegation for relations with Iran (2004-09-15--2007-03-13)3 substitute; BUDG (2007-01-31--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3
lpv:translated text	". I too would like to thank the rapporteur for his good work and support the ideas expressed by many colleagues. However, I would also like to mention another aspect, quite often forgotten, especially by members of our Commission; namely, that we are talking about a process that is not new. Financial groups are already operating in the European Union, and we know that for the uniform development of each country's market we have to ensure that these major groups do not crowd smaller enterprises out of the market, as these are the innovators and they are not in a position to trample the interests of consumers. I can give you an example of my own country, where the major financial groups are so well established that they make profits of 90%, which clearly demonstrates that customers are suffering. In other words, when making decisions about company acquisitions and takeovers and the formation of new financial groups, we must let the supervising bodies assess the structure of these groups and the extent to which these new financial groups will be amenable to innovation and will manage to respect their clients' needs. We surely cannot overlook the fact that, while we are currently occupied with the activities of financial groups, they have still not clearly specified what would happen if one of their subsidiary firms in one country or another were not operating effectively, and, let us say, it were to go bankrupt. We still have no reply as to who would compensate the clients. I think this is a complex problem, one that has to do with organising better supervision. Therefore, an essential part of the process is the supervision of mergers and capital enlargement in the financial market in such a way that it would be possible to defend the interests of small enterprises and consumers."@en1

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