Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-23-Speech-2-198"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-09-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"hu"^^xsd:language2
lpv:document identification number	"en.20080923.31.2-198"2
lpv:hasSubsequent	lp_eu:2008-09-23-Speech-2-1992
lpv:speaker	lp:Szabolcs Fazakas2
lpv:spokenAs	quaestor; Parliament's Bureau (2007-01-16--2009-07-13)3 member; Delegation to the EU-Croatia Joint Parliamentary Committee (2004-09-15--2009-07-13)3 member; CONT (2007-01-31--2009-07-13)3 member; Quaestors (2007-01-16--2009-07-13)3 unknown; Magyar Szocialista Párt (2004-07-20--2009-07-13)3 member; BUDG (2007-01-31--2009-07-13)3 member; PES (2004-07-20--2009-07-13)3 quaestor; European Parliament (2007-01-16--2009-07-13)3 substitute; Delegation to the EU-Turkey Joint Parliamentary Committee (2004-09-15--2009-07-13)3
lpv:translated text	". Contrary to expectations, the financial crisis that started in America last year, triggered by the unregulated, speculative financial processes there, has now, far from abating, shaken the whole world, including Europe. The current crisis requires a long-term change of paradigm by European decision-makers in two areas, so that in future they will not only reduce the danger of a financial crisis but also promote stable economic growth. The developments in America have demonstrated that the market itself is not capable of dealing with these and similar crises. It is therefore necessary that we create, as soon as possible, the central European financial supervisory authority which was proposed by the Hungarians last year and was subsequently embraced by the French Presidency and which would, among other things, see to it that such risky, speculative transactions in the banking and financial system can be subject to conditions that can be monitored and calculated. This would be the prerequisite for Europe gradually to take over America’s broken role in the world of finance. In order for the European economy, which has also been hit by the current crisis, to get on track for the growth it wants as soon as possible, it would be necessary to bring funding for real economies to the fore as soon as possible, instead of the risky, speculative transactions of the finance and banking world. A prerequisite for this is that the European Central Bank should not only, as up to now, concentrate on fighting off inflation, but also promote the recovery of the real economy using preferential interest rates."@en1

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