Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-24-Speech-4-024"
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"en.20021024.2.4-024"2
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". – Mr President, I have asked to speak again on this subject because of certain remarks made by Mrs Villiers, Mrs Kauppi and Mr Huhne.
Both Mrs Villiers and Mrs Kauppi said that freedom of speech is under attack. With all due respect to those Members of Parliament who have spoken and whom I have just mentioned, that is a caricature of the aims of this directive. Financial journalists are free to write whatever they wish. There is not the slightest doubt that they can write as they please. The only thing the directive says is that, when they recommend to the public certain stocks in which they themselves have invested, they must state that fact. In other words, if financial journalists advise the public to buy shares in a certain company and if they themselves own shares in that company, they must declare how many shares they own.
I do not understand why that should be an attack on the freedom of the press or, as Mr Huhne said, regulation of the press or of the media by the back door. Why should the rule of transparency apply to all and sundry who engage in dealings on the stock market but not to financial journalists? After all, we are simply asking them to be transparent about their investment in stocks they are recommending the public buy."@en1
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