Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-12-14-Speech-4-233"
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"en.20061214.46.4-233"2
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"Mr President, I have listened carefully to the various comments and I am sure that Charlie McCreevy, the Commissioner responsible for the internal market, will read them carefully. May I remind you that the Commission proposed signing the Hague Convention because it believed it was a good solution and that the Convention aimed to clarify which law was applicable, nothing more. The Commission thinks that even today investors can open an account in the United States and that, in that case, too, US law applies.
In this respect, the Convention changes little because people already have the freedom to choose where their accounts are held, even though for some of you the Convention is a step forward in the matter. All the same, Mr President, after listening to what the various speakers have said I would nevertheless like to say that the Commission does not intend to turn a deaf ear to these comments.
This debate shows that the Convention is still a source of serious concern. The Commission will therefore remain open to any suggestion relating to this technically complex matter, which is at present blocked in the Council despite the fact that all the Member States initially supported the contents of the 2002 Hague Convention.
That much I can add. The Commission will of course gladly work with the Council and Parliament to find a solution that will allow a legal framework to be drawn up, and we are, incidentally, aware of the risks that entails. You can count on us to mitigate the negative effects of the solution adopted, if necessary."@en1
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