Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-374-000"

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"en.20121025.28.4-374-000"2
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"Mr President, back in 2009 the High Level Group on Financial Supervision chaired by Jacques de Larosière underlined the importance of stricter regulation of the financial system. Today, the compromise text on financial instruments represents an important step towards both greater transparency of high-frequency trading and the elimination of agricultural produce speculation. In July of this year we witnessed a 10 % rise in food prices, which was to a large extent caused by speculative activity. The United Nations Food and Agriculture Organisation has requested global coordination of efforts to tackle raw material speculation, underlining the harmful effects of this kind of behaviour on price volatility and stating that the latter has moved at an alarming pace since 2007. At the same time, high-frequency trading, which unfortunately represents a significant component of the financial markets, has caused instability and serious losses to the European economy. In this context, I wish to express my support for a report which will make it possible to increase the transparency and efficiency of the financial markets."@en1
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