Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-04-22-Speech-2-016"

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". Mr President, I would in turn like to thank the Commissioner, Mr Almunia, and the President of the European Investment Bank, Mr Maystadt, for these specific answers. I would also like to thank the rapporteurs from the political groups, who supported the writing of this report. I would just like to share a few thoughts on the debate we have just had, firstly on the task of regulation. I believe it is in everyone’s interest that banking regulation of this kind should be set up. Obviously I do not have the solution. The idea that it is the European Central Bank that should do it seems to me a good one. For the Luxembourg regulatory body to play a stronger independent role, a genuine regulatory role, could also be a short-term solution. Nevertheless, I believe Parliament will be very interested in the opinion of the Committee of European Banking Supervisors if the Bank applies to it as the report suggests. Finally, regarding the financing of infrastructure, I would like to say that the European Union is clearly at a cross-roads and that financing is not enough now, but that debt should obviously not be used to fund operation, which is sadly what is happening in some Member States. Debt used skilfully for investment is, however, a key part of economic and social performance in Europe, which is competing with all the other economic regions of the world. I believe the time has come for a major development policy for the land, partially supported by investment. There needs to be public investment, because if there is not, we cannot expect there to be private investment. It is a problem of collective confidence in the future of the European Union and I am delighted that the European Investment Bank can offer its expertise thanks to its experience and the quality of its human resources."@en1

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