Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-19-Speech-2-038"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2007-06-19"^^xsd:date2
dcterms:Is Part Of	lp_eu:Crisis at Equitable Life – Report by the temporary committee of inquiry (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20070619.5.2-038"2
lpv:hasSubsequent	lp_eu:2007-06-19-Speech-2-0392
lpv:speaker	lp:Harald Ettl2
lpv:spokenAs	member; Delegation for relations with India (2007-03-15--2009-07-13)3 substitute; ECON (2007-01-31--2009-07-13)3 member; PES (2004-07-20--2009-07-13)3 unknown; Sozialdemokratische Partei Österreichs (2004-07-20--2009-07-13)3 member; EMPL (2007-01-31--2009-07-13)3
lpv:translated text	"Mr President, one may well spend a lot more time discussing the point of this sort of report or of this sort of committee of inquiry, but whatever emerges from the exercise will not help to make good the losses sustained by the consumers, and it will also tend too much to give the impression that, as a consequence of the report, the Commission and the government responsible can be asked to foot the bill. We can learn a number of lessons from all this about how things could be done better when subject to better regulation and monitoring. The insurance company itself – which is in fact the sole cause of the damage and the predominant characteristic of whose business practices was obfuscation – is touched on almost only peripherally. Commissioner McCreevy nevertheless went so far as to tell the committee that this was the free market economy that we were talking about, and if the consequence of that attitude is that people think they can leave provision for the twilight of their lives to a market as uncontrollable as that, then our sense of common political responsibility is in a damned poor state, and I say that with reference to the legislator, to the Commission’s failure to implement controls and to the sloppy transposition of the regulations by the government in question equally. If there is any point to this report, it is that we, together with the Council and the Commission, must put in place accompanying and monitoring legislation – and I say this as the person responsible for ‘Solvency I’ – that will enable consumers to plan for the latter years of their lives with greater confidence and safety. It is above all for this reason that I am voting in favour of a report that will send out a signal, believing as I do that it will also make the so-called free-marketeers more willing to learn from Europe as a whole and that we therefore have to take the necessary actions."@en1

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