Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-079-000"
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"en.20110704.21.1-079-000"2
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"Mr President, thank you, Mr Obermayr. I think that the answer to your question is very simple. When we see the Council dragging its feet and doing nothing for more than a year, I cannot understand the Commission’s position. Why should Member States be banned from taking measures themselves? When one State is under threat, it cannot expect the Council made up of all the States to be on hand to make a decision, assuming that it does not want to. This is why I think that Member States must be given the power to ban these instruments in this situation.
As far as the role of the European Securities and Markets Authority (ESMA) is concerned, I agree that it is exceptionally important. However, as I said at the start of my speech, I cannot simply imagine how staff, who should exercise real control, will be recruited for this agency."@en1
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