Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-23-Speech-2-206"
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"en.20080923.31.2-206"2
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"Colleagues, the recent financial crisis has many victims, of which HBOS – who last week were taken over by Lloyds TSB – was one. To see such high-profile casualties is not only destabilising for the world economy, but for those who entrust their money and their future to these companies. What the world has learnt from the last few weeks is that our approach to market regulation is outdated. We need global measures to regulate a globalised financial system.
The EU and the European Parliament therefore has a significant role to play in resolving the root causes of the crisis and must act responsibly by voting in favour of Mr Rasmussen's report. In encouraging hedge funds and private equity firms to be more prudent and transparent in their dealings, the EU will help construct a solid framework that will help restore much-needed stability to the financial sector."@en1
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