Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-049"
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"en.20010703.2.2-049"2
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"Mr President, I wish to begin by paying tribute to Mr Provan's chairmanship of Parliament's Conciliation Committee. He did a marvellous job in very difficult circumstances. I should like to say, on behalf of the ELDR Group, that we are fully and undividedly behind the agreement reached in conciliation and will vote accordingly.
Most of the reasons have been well rehearsed before and we have heard some of them again this morning. This directive is crucial, indeed critical, to the financial services action plan. Therefore if we are genuinely interested in the competitiveness and good functioning of Europe's economy, we have to proceed with this directive. My Group believes that it is in the long-term interests of Europe's citizens.
I want us to consider the interests of those we are really trying to protect with this directive, namely the minority shareholders, so that we can begin to secure investment and ownership in enterprises across Europe. It is now beginning to be the case, and will increasingly be so in future, that many of those investors are Europe's citizens investing for their future, savings and pensions.
Recent events have shown that citizens are becoming increasingly frustrated with the inability of politicians to deal with the effects of globalisation and other aspects of corporate life. For example it seems quite possible that a group of motivated shareholders may be beginning to achieve an about-turn on the projected building of the Ilisu dam in Turkey. Shareholders can act against the Wall Street sharks. Shareholders are property owners; they have rights and responsibilities which can be exercised in many ways this House would wish to endorse. Shareholders will often also be employees.
The conciliation result represents a substantial compromise. This directive has the potential to be the means to allow our citizens to be investors in the future of Europe's enterprise and to secure the health and vitality of our economy."@en1
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