Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-08-Speech-2-387"

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	"sv"^^xsd:language2
lpv:document identification number	"en.20080708.36.2-387"2
lpv:hasSubsequent	lp_eu:2008-07-08-Speech-2-3882
lpv:speaker	lp:Olle Schmidt2
lpv:spokenAs	substitute; IMCO (2007-01-31--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3 member_of_the_bureau; ALDE (2006-10-19--2009-07-13)3 unknown; Folkpartiet liberalerna (2006-10-19--2009-07-13)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2007-03-15--2009-07-13)3
lpv:translated text	"Madam President, Commissioner, I am a fervent advocate of free trade and am allergic to protectionism, but that does not mean that I am naive. One of the problems of state-owned funds is their enormous growth. Since February this year alone, their assets have risen by 600 billion dollars to approximately 4 trillion dollars, i.e. 4000 billion dollars. What power! This, combined with the fact that many of these funds do not have adequate transparency, which has been mentioned, as regards their investment practice and that some of them originate in non-democratic countries, I think indicates that we should be interested. The funds are needed, the investment is needed, but we need rules of play and regulatory systems applicable to all, under which transparency must be exemplary. The Norwegian Oil Fund is, I think, an example which has been mentioned in this debate. It should also serve as a model when the code of conduct is drawn up. Madam President, when the sun shines we do not need umbrellas, but when it rains we may well need them."@en1

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