Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-19-Speech-2-053"
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"en.20070619.5.2-053"2
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"Mr President, the Italians, as a nation, have brought forth many talented artists, but I do not think it appropriate that respected Members of this House such as Mr Pannella should come here and turn Parliament into a circus by finding a brief perch in the last row, raising a point of order and then coming out with something completely irrelevant to the matter in hand. To do so shows a lack of respect for one’s fellow Members and also for the people who are following the debate. I might add, Mr President, that I think you were wrong not to have intervened earlier on.
Turning to the matter in hand, this point is in many respects a learning exercise. We in Parliament have entered a new dimension. We have received petitions and are now on the brink of publishing the findings of a committee of inquiry. I should like to make a heartfelt request to Mrs Wallis and Mrs McGuinness, particularly as we are already receiving the first letters saying, if nothing happens in the wake of this parliamentary report, then we will despair of Europe and we will despair of this Parliament. I should like to ask Mrs Wallis and Mrs McGuinness to consider prefacing this report, which is to be published, with a brief overview of what this Parliament can and cannot do. As you know, we are not the most powerful of the institutions, and this needs to be explained in simple language with the aid of diagrams.
It is not true that the United Kingdom does not have compensation arrangements in place or that it does not have a compensation scheme. More salient is the fact that the United Kingdom has a different standard for liability. In the United Kingdom you are held liable for your intentions, but not for negligence, mismanagement or other failings for which you are certainly liable in other Member States. This is the nub of the matter. In the European Union we will have to find a way out of the old entrenched positions of the country of origin principle and the country of destination principle, because neither extreme is appropriate and we have not yet managed to identify a system that is midway between the two. As a result we have so many irregularities. We need to try to find a new system, particularly for complex areas such as financial services, otherwise we will continue to fail.
I hope that when the British Government finds a way to compensate the victims all victims throughout Europe will be included, because the British taxpayer did in the past benefit from the success of Equitable Life, success which it owed not least to its presence on the internal market. It was this presence on the internal market that led to citizens in other Member States suffering losses."@en1
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