Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-03-12-Speech-3-082"

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"The upcoming Spring European Council will launch the next three-year cycle of the Lisbon Strategy. The focus will be on climate change, on the challenges arising in relation to energy, and on financial market stability. In the globalised world, continued success for Europe requires that we deal effectively with all three issues. It is vital to formulate a common European Union position in the shortest possible time. We have acknowledged the progress made with the implementation of the Lisbon Strategy since spring 2006, and we support the continued efforts aimed at adopting directives on issues relating to the overall economy, but even more importantly, ensuring that these extend to all Member States. It is becoming increasingly urgent to reach an agreement on issues relating to climate and energy matters. We need to find an effective solution to Europe’s energy dependence while at the same time ensuring that European products retain their economic competitiveness. We have witnessed the rise of the sovereign wealth funds, and we must ensure that their activities are conducted in a transparent and trustworthy manner. Effective legislation needs to be put in place concerning the operation of these funds. It is timely that the Council should be addressing this issue and we must develop a united European position as soon as possible in order to eliminate the uncertainties currently surrounding this issue. No less importantly, the Spring Council must put in place every possible but indispensible measure to strengthen the prudential regulatory framework in the interests of ensuring financial market stability. The crisis, which could affect European citizens, is not yet over; the worst may yet be to come. If this Council meeting had a motto, it would have to be ‘there is no time to waste’."@en1

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