Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-433"
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"en.20081118.33.2-433"2
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".
Mr President, Commissioner, ladies and gentlemen, I have four comments.
The first is that the Commissioner is asking us to give a fast, flexible response to any such new request. I believe that the European Parliament has shown that it can come up to the mark. Today, we are accepting the threshold of EUR 25 billion to amend the 2002 liability regulation, insofar as we know the conditions for negotiating with the Council, but of course, we are showing ourselves to be open and available to, unfortunately, envisaging other scenarios.
My second comment is to remind you that, for us, one of the lessons of this stage of European integration is that, for each Member State, whether or not they belong to the euro area, the first circle of solidarity, the first circle for discussions, should be the European Union. I hope that, today, for each of us, for the institutions and for the Member States, that is clear.
My third comment is to note with satisfaction the Commission’s commitment to make public, or first to examine, then make public, both in our Economic and Monetary Committee and in Mr de Larosière’s group, the lessons to be learned from the situation which has developed in Hungary.
My final comment is to note with you that, in this crisis, everyone believed that there would be two channels for transmitting the crisis, the complex financial markets on one hand and, on the other, the real economy.
In fact, we now see that there is a third transmission channel, namely, the movements of capital which can affect even simpler, less opaque financial markets. This is why the interweaving of the real economy and the financial markets, whose extent, I believe, we have yet fully to gauge, is so important. Unfortunately, we are finding out more day by day, and we are faced with an issue which needs us to show flexibility and collective intelligence to find suitable solutions.
Parliament has, I believe, once again shown its ability and desire to contribute to finding suitable solutions to each new aspect of this crisis whilst hoping that, finally, we will also find what we need to allow our economy to face the challenges in these very difficult times."@en1
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