Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-23-Speech-1-153"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-10-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Implementing measures (level 2) of the "Transparency" and "Prospectus" directives (debate)2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20061023.19.1-153"2
lpv:hasSubsequent	lp_eu:2006-10-23-Speech-1-1542
lpv:speaker	lp:Margarita Starkevičiūtė2
lpv:spokenAs	unknown; Liberalų ir centro sąjunga (2004-07-20--2009-07-13)3 substitute; BUDG (2004-07-22--2007-01-14)3 member; ECON (2004-07-21--2007-01-14)3 member; ALDE (2004-07-20--2009-07-13)3 member; Delegation for relations with Japan (2004-09-15--2007-03-13)3 substitute; Delegation for relations with Iran (2004-09-15--2007-03-13)3 member; CONT (2004-07-21--2007-01-14)3
lpv:translated text	"The document being discussed is technically concise and clear – we are speaking here about accounting standards. Yet, as we emphasised in our draft resolution, in economic and political terms this issue is very significant and complex, since in essence it concerns the role of the European Union in the global financial market. International financial accounting standards based on principles form a constituent part of our European financial model, which will be adopted by developing countries as well. Therefore, the European Commission must take action in support of the application of such standards in developing countries, promote their quality and European nature and in this way develop an image of the European financial market and offer various solutions (not only in a technical sense). We should not forget that the United States also has a perfectly functional system of accounting standards. Therefore, whether we like it or not, international and American accounting standards are presently competing in the market of the European Union; that is, we, the legislators, are competing. I believe that the European Parliament is ready for this competition, but for businesses it is too costly to adhere to more than one standard, and the developing markets feel confused. They do not know which standards are to be implemented. Consequently, the European Commission should look for ways to harmonise the standards or encourage harmonisation of the standards at the level of appropriate bodies. We should not forget that it is not only a technical issue that we are discussing, but rather the development of the global financial market, and for harmonisation of the standards we need two things: clear guidelines for implementation of harmonisation and a clear definition of what harmonisation really means. Some of us think that informal negotiations are more effective, since no one needs to voice their positions in advance. Different methods and tactics in negotiations are possible, but I do not think the European Parliament would agree that decisions to be made in harmonising accounting standards should infringe on key IFRS principles, their high quality and reputation. It is out of the question for the European Parliament to make decisions without consulting Parliament and the players in financial markets."@en1

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