Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-018"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-04-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Credit Rating Agencies - Reporting and documentation requirements in the case of merger and divisions - Insurance and reinsurance (Solvency II) (recast) (debate)2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20090422.4.3-018"2
lpv:hasSubsequent	lp_eu:2009-04-22-Speech-3-0192
lpv:speaker	lp:Cristiana Muscardini2
lpv:spokenAs	co-chair; UEN (2004-07-20--2009-07-13)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2007-05-23--2009-07-13)3 unknown; Alleanza nazionale (2004-07-20--2009-07-13)3 vice-chair; INTA (2007-02-01--2009-07-13)3 substitute; FEMM (2007-01-31--2009-07-13)3 substitute; PETI (2007-01-31--2009-07-13)3 member; Delegation to the Euro-Mediterranean Parliamentary Assembly (2008-05-08--2009-07-13)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2004-09-15--2009-07-13)3 member; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2004-09-15--2009-07-13)3 substitute; ENVI (2007-01-31--2009-07-13)3 member; Conference of Presidents (2006-12-13--2009-07-13)3
lpv:translated text	". Madam President, ladies and gentlemen, the economic crisis is far from over, although membership of the euro zone has given Europe a certain stability. The International Monetary Fund puts the cost of the financial crisis at USD 4 000 billion, two-thirds of which can be attributed to the banks. There are many goals to be reached: restoring confidence, supporting growth and protecting employment. This can only be achieved through an economic policy capable of setting the financial system to rights, but Europe does not yet have an economic policy! Despite the London G20 proposals to give a new boost to the credit system, there is still a severe lack of clear rules – as we have been saying for years – to govern the financial market, its operators, the products offered and the derivatives. The markets should be subject to regulation and surveillance, most importantly for the financial sector, which, uncontrolled, has opened the way for an escalation of unprecedented indebtedness. What to do with this enormous debt that has built up by granting credit without guarantees? Should it be written off? Should it be included in a cleansing mechanism put in place by the banks? Should future transactions in OTC derivatives be banned and the banks asked to put an end to their derivative contracts once and for all? We need definite responses, new lines of credit for small and medium-sized enterprises and for savers, to prevent uncontrolled relocations and to realign OMC rules to the real situation. If we do not talk about world trade rules we will resolve nothing: that is to say, in the face of this systemic crisis we must reform the system, restoring to politics that steering role that is too often lacking, refocusing attention on the real economy and abandoning the easy opiates of virtual finance!"@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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