Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-09-Speech-4-286"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20081009.25.4-286"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"I support the report by Mrs van den Burg and Mr Dăianu on the follow–up to the Lamfalussy directives and the future structure of supervision.
There can be no doubt that in view of the current financial crisis caused by unduly risky investments and other activities of banks in the United States, there is an urgent need to reform the regulation and supervision of the financial markets. Without the Lisbon Treaty, however, a coordinated EU policy on the financial crisis cannot work properly. Ratification of the Treaty is essential in order to ensure that the European institutions are adequately represented in the international financial structure.
Market integration is a positive phenomenon, but unfortunately appropriate financial supervision has not kept pace with it. I believe that supervision needs to be updated as soon as possible, and this should be preceded by a comprehensive review of the Union’s regulatory and supervisory arrangements.
Citizens, investors and supervisory bodies should be guaranteed an adequate level of transparency. To that end, it would be appropriate to set up a group of advisers to develop a long-term vision of supervision and prepare a programme or plan of action for long-term reform.
I share the view that the Union should set about developing more cohesive and effective legal arrangements now in order to mitigate the risk of future crises."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples