Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-08-Speech-2-386"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-07-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Sovereign Wealth Funds (debate)2
dcterms:Language	"es"^^xsd:language2
lpv:document identification number	"en.20080708.36.2-386"2
lpv:hasSubsequent	lp_eu:2008-07-08-Speech-2-3872
lpv:speaker	lp:Antolín Sánchez Presedo2
lpv:spokenAs	member; PES (2004-07-20--2009-07-13)3 member; Delegation for relations with Japan (2007-03-14--2009-07-13)3 substitute; AFET (2007-01-31--2009-07-13)3 unknown; Partido Socialista Obrero Español (2004-07-20--2009-07-13)3 substitute; Delegation for relations with the United States (2007-03-14--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3
lpv:translated text	"Madam President, more than 30 countries have set up sovereign wealth funds within the last 50 years. Their growth in recent years is due to foreign currency from oil and trade surpluses, and certain countries are now even looking at how they can be used to prop up public pension systems. Sovereign wealth funds can make a global contribution to financial stability, as we have seen, and also to economic growth in order to ensure solidarity between generations. They can also lead to problems and distortions. That is why we need a common European approach and to ensure that they operate with transparency, predictability and sound governance. We must prevent conflicts of interest, and the paradox whereby European sectors whose efficiency was entrusted to market logic again become a matter of public discretion; this time, however, it is the discretion of third countries. Not only must we ensure coherence and reciprocity; we must also reflect on this issue and move forward in terms of laying down some international rules."@en1

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