Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-11-14-Speech-2-076"

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"en.20061114.8.2-076"2
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"Mr President, it is at present difficult to speak of a common European financial market. The financial market is highly fragmented, which causes legal, fiscal and regulatory problems. The majority of mortgages on the market are financed by the savings of small savers. Less than 40% of mortgages are financed by the capital markets, whose share is growing slowly, although this growth is insubstantial. In Sweden and Germany there are quite extensive markets in mortgage bonds. In Denmark, for example, mortgage institutions issue bonds to the entire value of the mortgage credit. While the market for mortgage credit-based bonds is strong in many EU countries, there are some countries where they do not exist at all. Over the last decade or so this market has also advanced a great deal in Poland, and this has had a substantial effect on economic growth. Seeing what a great impact this has had on the markets in our countries, I support the establishment of a legal framework allowing for effective portfolio transactions to be carried out."@en1

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3http://purl.org/linkedpolitics/rdf/spokenAs.ttl.gz

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