Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-07-03-Speech-1-079"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-07-03"^^xsd:date2
dcterms:Is Part Of	lp_eu:Consolidation in financial services Mergers and acquisitions (M[amp]A) developments around Europe's stock exchanges (debate)2
dcterms:Language	"sv"^^xsd:language2
lpv:document identification number	"en.20060703.14.1-079"2
lpv:hasSubsequent	lp_eu:2006-07-03-Speech-1-0802
lpv:speaker	lp:Gunnar Hökmark2
lpv:spokenAs	member_of_the_bureau; EPP-ED (2004-08-31--2007-02-14)3,3 member; Delegation to the EU-Turkey Joint Parliamentary Committee (2004-09-15--2009-07-13)3,3 substitute; ITRE (2004-07-22--2007-01-14)3,3 substitute; Delegation for relations with Israel (2004-09-15--2007-03-13)3,3 unknown; Moderata Samlingspartiet (2004-07-20--2009-07-13)3,3 member; ECON (2004-07-21--2007-01-14)3,3
lpv:translated text	"Mr President, I should like, if I may, to agree with my party colleague’s, Mr Hoppenstedt’s, views and, especially, with his appreciative remarks about the work done by the rapporteur. I think there are three important things to say in this connection. Firstly, experience of consolidation in the financial market has been positive. It might, if anything, be said that there is too little cross-border consolidation. Where we have seen such consolidation, it has been an expression of genuine cross-border integration and produced sound conditions for consumers and customers. Another thing that it is important to say in this connection is that, when we debate the situation in Europe, we should do so with the global financial market in mind. We need not only strong European players but also strong players in Europe if we are to have both ready access to capital, notably for investment purposes, and a powerful financial dynamic. It is in this context that it is important for major companies to be able to develop in Europe, and it is, therefore, also important to welcome the consolidation we see. In this connection, I should also like to point out that it is important for the European economy to develop the transatlantic market. Irrespective of what develops as regards the transatlantic issue of European and US stock exchanges or purely European ones, it is important to exploit the opportunity we now have. We have an interest in, as far as possible, upholding European rules when it comes to reporting, sound company management and common rules governing competition. I should like to call on the Commission not to intervene in the discussions about transatlantic stock exchange mergers and not to steer matters in one particular direction or another. Instead, it should use these discussions to emphasise European rules, the implementation of which could give European financial markets a strong position in the global economy. That is an opportunity of which we must take advantage now."@en1

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