Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-12-03-Speech-3-095"
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"en.20081203.13.3-095"2
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"Mr President, what I miss in this recovery plan is a reference to financial markets. At the beginning of this year, when there were discussions on broad economic guidelines, Parliament came up with a proposal to include a financial market dimension in the guidelines.
Unfortunately, at that time the Commission was against this proposal. However, the development of events showed that we were right. I would urge you not to repeat this mistake once again and to link the economic recovery plan with the upgraded Financial Services Action Plan. If we undertake this strategy it will be possible in the long run to reflect the needs of the real economy in an ongoing modernisation of EU financial architecture.
I would also like to encourage the scrutiny of your proposals from the perspective of financial market participants. The Commission is now providing so many new proposals that it is difficult even for us, Members of Parliament, to handle. They are not very well coordinated. Just think how the heads of financial market institutions and investors, who indeed have difficulties in deciding, must feel. It is far from giving the impression that our market is stable; therefore, I believe that more coordination is required."@en1
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