Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-09-05-Speech-3-212"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech²
dcterms:Date	"2007-09-05"^^xsd:date²
dcterms:Is Part Of	lp_eu:Financial instability and the impact on the real economy (debate)²
dcterms:Language	"en"^^xsd:language²
lpv:document identification number	"en.20070905.21.3-212"²
lpv:hasSubsequent	lp_eu:2007-09-05-Speech-3-213²
lpv:speaker	lp:Charlie McCreevy²
lpv:spoken text	"Mr President, I shall be brief. I fully agree that we cannot be complacent about the supervisory challenges that are presented by increasingly complex financial products and off-balance sheet vehicles. Neither can we be naive and believe that Basel I, Basel II and Solvency II will solve the problems that have occurred. There are important lessons to be drawn, which I will be taking up with all concerned in the time ahead. As I said in my opening remarks, I believe a light-touch, principles-based regulation is the best approach. I am certain that more regulation now would be the worst thing we could do for financial markets. In any event, I do not believe that there is a need for more regulation. It might surprise Mr Rasmussen to know that I agree with something he has advocated, i.e. more transparency. However, there are other ways of achieving this than through regulation."@en¹
lpv:unclassifiedMetadata	"Charlie McCreevy,"¹ "Member of the Commission"¹

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