Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-05-08-Speech-4-204"
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"en.20080508.21.4-204"2
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"As a co-author of this resolution, I am in support of the realistic intentions of the TEC process.
It is necessary for the EU and the USA to undertake this search for barrier-reducing initiatives. In particular I welcome the steady progress that has been made on financial services, IFRS and the broker/dealer agreement.
More has to be done and other avenues should be explored, including the multilateral approach. I am concerned, however, that both sides should not wait for remedies which may or may not close differences between us. This will take hard work instead, and this is no more apparent than in the area of insurance and, in particular, the collateral issue.
The TEC is not a trade issue per se. It is about a deepening of our relationship at the regulatory level which improves the openness and efficiency of our industrial performances and which does away with the weak excuses of the past.
We now face a mounting challenge in the world where the interest for the EU and the USA is in having systems which promote growth rather than protectionism and isolationism.
TEC helps to bring the EU and USA closer together, but it will not do to rely on the outcomes of TEC by themselves. More needs to be done to fold this kind of approach into our day-to-day considerations at this level. Failure is all too easy to predict based on our political economies – hard work is needed to overcome this fear."@en1
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