Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-22-Speech-1-088"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Hedge funds and private equity - Transparency of institutional investors (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20080922.19.1-088"2
lpv:hasSubsequent	lp_eu:2008-09-22-Speech-1-0892
lpv:speaker	lp:Karsten Friedrich Hoppenstedt2
lpv:spokenAs	member; Delegation for relations with the People's Republic of China (2007-03-14--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3 substitute; ENVI (2007-01-31--2009-07-13)3 member; EPP-ED (2004-07-20--2009-07-13)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2007-05-23--2009-07-13)3 unknown; Christlich Demokratische Union Deutschlands (2004-07-20--2009-07-13)3 substitute; Delegation for relations with the countries of the Andean Community (2007-03-14--2009-07-13)3
lpv:translated text	"Madam President, Commissioner, ladies and gentlemen, we have now heard everything from the experts who produced the report – Mr Rasmussen, Mr Lehne, Mr Lauk, thank you very much. It was an excellent piece of work and met with great approval in the Committee on Economic and Monetary Affairs. In the past three years, Commissioner, we have constantly been asking for rules to be established, for questions to be raised, such as: how can we obtain greater transparency for hedge funds, who is advising the rating agencies, and so on. They now come from Ireland and are therefore racing experts. When the fences are high, the horses may well shy. Put simply, shying away from an obstacle that is no longer there! We must now – and this you have indeed promised – lay down rules and make proposals. We have to show that we have learned something from all these crises and are striking new paths. You put forward this proposal . I hope that in October we shall be receiving the guidelines from you. A few days ago I was at a large conference near Rome. The first item discussed there, of course, was that of the banks. On the Thursday the newspaper headlines read: Morgan Stanley offers hope. On Friday, they read: Morgan Stanley seeks protection. How can this happen in a single day? There are deficiencies here in transparency and the like. If, after Bear Stearns, Lehman Brothers and Merril Lynch, this investment bank is also now sinking in the chaos of the financial markets, corrective action should be taken as a matter of urgency. A short time ago I was in China. The Chinese were saying: our role model, the United States, has collapsed. Together we – Europe, China and others – must seek out new paths. My hope is that together we shall have the strength to strike these new paths, then not only those who have won, but also those who have lost will be rescued with us."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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