Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-03-14-Speech-4-098"
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"en.20020314.6.4-098"2
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".
The directive proposes to reduce some forms of financial crime, and we welcome this fine objective. We must be wary, however, of being totally naïve, first and foremost, because, as the rapporteur points out, ‘it would have been better to have had recourse to a Community regulation. But the Treaty does not allow it’. The fact that criminal penalties fall within the remit of the Member States leaves the net wide open and encourages, as is the case in fiscal matters, criminal operations spanning several countries.
Furthermore, we do not believe to any degree that capitalism can work in a transparent and equitable fashion. Capitalist competition is a form of war by all available means, such as pacts, lobbying, organised accounting practices and fudged audits, as current events illustrate. We do not see money-making institutions taking swift measures to try to monitor their methods. As for ‘insider dealings’, we do not see how they could be dissuaded by declarations of intent – even if they are called a directive – when this does not provide for any genuinely restrictive penalty. In spite of these reservations, I voted in favour of the directive so as not to obstruct the minimal measures therein."@en1
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