Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-325"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-11-18"^^xsd:date2
dcterms:Is Part Of	lp_eu:EU response to the world financial crisis: follow-up of the informal European Council from 7 November and of the G20 Summit from 15 November 2008 - Commission's legislative and work programme for 2009 (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20081118.29.2-325"2
lpv:hasSubsequent	lp_eu:2008-11-18-Speech-2-3262
lpv:speaker	lp:John Purvis2
lpv:spoken text	"Madam President, there is a grave danger of rushing to excessive misguided regulation and to unintended consequences. An example in the new capital requirements directive is the proposed 5% retention of securitisation proceeds. This will only clog up credit creation. Lack of securitisation possibilities is the principal reason that credit has dried up now. We need the banks to lend but no, this misguided principle, which lacks an impact assessment, will prevent a restart of securitisation and the credit which our business and industry so badly needs. Ask the motor car industry how it will prosper if securitisation is snuffed out. That is only one example. If we suspend true and fair accounting, if we go out of our way to kill hedge funds and private equity and incentives to innovators, risk-takers and even bankers, as Mr Schulz and the Socialists require, we will only delay and kill altogether that recovery."@en1
lpv:spokenAs	member; EPP-ED (2004-07-20--2009-07-13)3 unknown; Scottish Conservative and Unionist Party (2004-07-20--2009-07-13)3 member; Delegation for relations with Iran (2007-03-14--2009-07-13)3 substitute; ITRE (2007-01-31--2009-07-13)3 member; Delegation for relations with the Mashreq countries (2007-03-14--2009-07-13)3 vice-chair; ECON (2007-02-01--2009-07-13)3 substitute; Delegation for relations with the Gulf States, including Yemen (2007-03-14--2009-07-13)3
lpv:unclassifiedMetadata	"John Purvis (PPE-DE ). -"1
lpv:videoURI	<go to Events_and_structure europarl>2

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