Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-035"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-04-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Credit Rating Agencies - Reporting and documentation requirements in the case of merger and divisions - Insurance and reinsurance (Solvency II) (recast) (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20090422.4.3-035"2
lpv:hasSubsequent	lp_eu:2009-04-22-Speech-3-0362
lpv:speaker	lp:Werner Langen2
lpv:spokenAs	substitute; Delegation for relations with the People's Republic of China (2007-03-14--2009-07-13)3 member_of_the_bureau; EPP-ED (2004-11-14--2009-07-13)3 substitute; Delegation to the Euro-Mediterranean Parliamentary Assembly (2004-12-01--2009-07-13)3 member; ITRE (2007-01-31--2009-07-13)3 substitute; ECON (2007-01-31--2009-07-13)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2008-10-23--2009-07-13)3 unknown; Christlich Demokratische Union Deutschlands (2004-07-20--2009-07-13)3 member; Delegation to the EU-Turkey Joint Parliamentary Committee (2004-09-15--2009-07-13)3
lpv:translated text	"Madam President, today, we are seeing the first legislative proposals to emerge from the financial market package. Solvency II was long overdue: I wish to start by setting this aside. The negotiations on this were very good, the results are useful, and we shall be giving it our support. In the case of credit rating agencies, a problem has arisen that one can really describe as a case of market and policy failure. For years, Parliament has been calling on the Commission to present proposals on various aspects of the causes of the financial market crisis, which have been a very long time in coming. What Mr Gauzès has now negotiated is useful. It establishes independent criteria and new supervisory structures and does indeed have the potential to resolve this conflict of advisory and assessment interests and to increase transparency. It is a sound proposal. Yet it is not enough. I remember the debate in this House with British Prime Minister Tony Blair, who was acting as though he had the solution ahead of the G20 Summit in London. The fact is that, over the last 10 years, there have been refusals even from within the European Union – particularly by the United Kingdom, but also by the European Commission – to regulate certain things in a manner that should have been obvious. These were not new phenomena; the bubble had indeed grown very large. The task now is to make progress with the accounting rules – as the Commissioner mentioned in connection with executive assessment and bonus schemes. It is unacceptable for there to be no regulation in this field. In addition, we must resolve the issue of capital – of securitisation, for example – by the end of May, and also find a speedy solution with regard to European supervisory structures and the de Larosière report in general. We cannot wait for the United States on all the issues. Let us proceed as we did with the climate action and renewable energy package: let us Europeans take the lead and present the world with a useful template. Then we shall have made our contribution to overcoming the crisis."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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