Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-02-15-Speech-4-053"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2007-02-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Shareholders' voting rights (debate)2
dcterms:Language	"es"^^xsd:language2
lpv:document identification number	"en.20070215.5.4-053"2
lpv:hasSubsequent	lp_eu:2007-02-15-Speech-4-0542
lpv:speaker	lp:Manuel Medina Ortega2
lpv:spokenAs	vice-chair; Committee of Inquiry into the crisis of the Equitable Life Assurance Society (2006-02-02--2007-06-19)3 unknown; Partido Socialista Obrero Español (2004-07-20--2009-07-13)3 substitute; Delegation for relations with Canada (2004-09-15--2007-03-13)3 substitute; IMCO (2007-01-31--2009-07-13)3 member; Delegation for relations with the countries of the Andean Community (2004-09-15--2007-03-13)3 member; PES (2004-07-20--2009-07-13)3 member; JURI (2007-01-31--2009-07-13)3
lpv:translated text	"Madam President, I would firstly like to say that the Socialist Group in the European Parliament is going to vote in favour of the proposal by Mr Lehne, as amended in the Committee on Legal Affairs. Secondly, while I am pleased that Commissioner Almunia is with us, I believe that this would have been a good opportunity to hold a personal exchange of views with Commissioner McCreevy, because, as has been highlighted in previous speeches, there are questions about the limitations of this proposal for a directive. It is a minimal proposal for a directive, about which there are a series of question marks. For example, with regard to the issue of financial intermediaries, the legitimate rights of shareholders and the use of proxy, that is, the right to vote by means of a representative. The text that Mr Almunia has read to us on behalf of Mr McCreevy talks about a future Commission recommendation. The problem with recommendations is that they raise difficulties from the point of view of Community law. Mr Lehne has said that we are talking about provisions of the Treaties, but at the moment we in the European Parliament are concerned about the over-use of the systems of so-called ‘soft’ law by the Community institutions, which raises questions about the reliability of the Law. I have the feeling that this issue will have to be discussed. I hope that, at meetings with the Committee on Legal Affairs and the Committee on Economic and Monetary Affairs, Commissioner McCreevy will clarify his ideas a little so that we can ascertain what we can do in order to reassure ourselves that progress is going to be made in a particular direction. We Socialists are rather concerned about the protection of the rights of shareholders. We are concerned about the possibility that, in a great European Union market, financial operators will act with total impunity and freedom, and I have the sense that this is an important issue for everybody, for investors and for savers, which should be subject to full consideration and discussion between Parliament and the Commission. We will therefore vote in favour, but I would say once again that I hope Mr McCreevy can discuss the methods for making future changes in the legal field with us."@en1

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