Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-11-14-Speech-2-187"

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"en.20061114.33.2-187"2
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". This own-initiative report is aimed at creating a single European market for mortgage credit and the promotion thereof at cross-border level. The banks and the capital markets have a major interest in this issue given that in 2004 the volume of outstanding loans was EUR 4.7 billion, equivalent to 45% of the EU’s GNI. This is very much a growth market. The report follows the neoliberal line. It provides for more competition in the sector, European or cross-border mortgages, a secondary market for mortgage credit and the possibility for it to be negotiated on the capital markets, cross-border mergers and acquisitions in the financial services sector, the opening-up of this market to institutions other than credit institutions, guaranteed freedom to provide services and the liberalisation of these services, restrictions on the State’s ability to regulate, online marketing of mortgage credit and access for foreign organisations to customer credit databases, including non-compliance. It is not difficult to see the risks involved with all of these proposals, in terms of market volatility. This would jeopardise mortgage assets, that is to say, the savings of many workers and other home buyers. We therefore voted against the report."@en1

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

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