Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-09-26-Speech-1-096"
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"en.20050926.14.1-096"2
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"Mr President, for many small and medium-sized businesses, Basel II is a matter of life and death. They worry a great deal about it; there has been a great deal of discussion about it. I believe that they should have complete confidence in the rapporteur. Even though his report has accomplished many things, there is one aspect I would like to mention in the short speaking time available to me, and that is that whether there really will be fair competition among sources of credit, and then perhaps also among those who apply for it, will be dependent on what is agreed in this House. It is fortunate that we are only at first reading stage. I do think, though, that Amendment 140, which is an attempt to introduce more transparency by calling on the credit institutions to provide the SMEs and other firms that have applied for loans with written clarification of how they arrived at their rating decisions, will be essential if the market is not to be even more distorted. We will then have to wait and see what comes out at the other end – the right degree of transparency or excessive regulation. It would be nice if we could lay down a timeframe for this, at least at second reading. I would certainly be in favour of a sunset clause, about which everything has in any case already been said, and I hope that Mr Radwan’s report gets through in such a shape as to maintain the balance he is seeking."@en1
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