Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-09-Speech-3-029"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-07-09"^^xsd:date2
dcterms:Is Part Of	lp_eu:Report on the ECB annual report for 2007 (debate)2
dcterms:Language	"nl"^^xsd:language2
lpv:document identification number	"en.20080709.2.3-029"2
lpv:hasSubsequent	lp_eu:2008-07-09-Speech-3-0302
lpv:speaker	lp:Cornelis Visser2
lpv:spokenAs	unknown; Christen Democratisch Appèl (2007-10-17--2009-07-13)3 member; ECON (2007-11-12--2009-07-13)3 member; PECH (2007-11-12--2009-07-13)3 substitute; CULT (2007-11-05--2009-07-13)3 member; EPP-ED (2007-10-17--2009-07-13)3 member; Delegation for relations with the People's Republic of China (2007-11-12--2009-07-13)3 substitute; Delegation for relations with Israel (2007-11-05--2009-07-13)3
lpv:translated text	"Firstly, I must congratulate Mr Schmidt on his report. As someone representing Sweden, which is not a member of the euro area, he has produced a very good, very clear report. To my mind he has met the criteria for membership on Sweden's behalf. Last week the European Central Bank put up the interest rate. Clearly the European Central Bank and its President, Mr Trichet, take the Bank's mandate and the Maastricht criteria seriously. I am glad that the ECB is independent. The ECB must be protected against political meddling, by national authorities, for example, and I am glad too to hear Mr Juncker confirming this on behalf of the Eurogroup. And the European Central Bank has responded well to the financial crisis. It moved in a timely fashion to guarantee liquidity for the markets. This has stabilised interest rates for the time being. The crisis in the banking sector has been a wake-up call. The lack of transparency in the financial risks to which institutions are exposed is producing losses which may be considerable. A debate is currently under way in the European Parliament on financial scrutiny. The European Central Bank can play a crucial role here, because it is well briefed by the central banks of the Member States. But the Treaty says nothing about this. I believe we need closer cooperation between the central banks and the European Central Bank, financial markets and regulatory authorities. The European Central Bank should play a greater part in scrutiny and oversight. It is in a position to organise the cross-border exchange of information, certainly when it comes to financial stability. The ECB has proved its worth. We must make use of its power in order to strengthen financial scrutiny."@en1

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