Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-23-Speech-4-263"
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"en.20090423.58.4-263"2
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"We are now erasing grey zones on the financial markets and imposing stricter requirements, and not before time. However, this only treats the symptoms, not the causes. Deregulation over recent years has allowed new – and, thanks to their complexity, obscure – money market products to sprout up. In this sense, I voted in favour of stricter financial supervision, even though that alone will not suffice by a long chalk.
If we want to prevent such houses of cards from being built in future, the only thing to do is to ban the risky financial products. However, a supervisory authority of our own would certainly create more bureaucracy, but would not bring about more economic reason and an end to the casino mentality."@en1
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