Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-031"

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	"fr"^^xsd:language2
lpv:document identification number	"en.20090422.4.3-031"2
lpv:hasSubsequent	lp_eu:2009-04-22-Speech-3-0322
lpv:speaker	lp:Robert Goebbels2
lpv:spokenAs	unknown; Parti ouvrier socialiste luxembourgeois (2004-07-20--2009-07-13)3 substitute; ITRE (2007-01-31--2009-07-13)3 substitute; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2007-03-14--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2004-09-15--2009-07-13)3 substitute; CONT (2007-01-31--2009-07-13)3 substitute; Delegation for relations with India (2007-03-16--2009-07-13)3 member; Delegation for relations with the countries of South Asia (2007-03-15--2009-07-13)3 vice-chair; PES (2004-07-20--2009-07-13)3
lpv:translated text	"Madam President, ladies and gentlemen, Parliament is about to adopt rules governing international finance. They will not be enough, since there is evidently no political will in either Europe or the United States to eliminate the excesses of pure speculation, such as, for example, naked short selling, the sale of goods that one does not even own. The international financial crisis did not start on the islands. It started in the United States, and it spread through the City to the other large financial centres. All of these centres were supposed to have been properly regulated. Nevertheless the G20 found ideal culprits: tax havens, whether real or not. As far back as in 2000, I recommended, in my report for Parliament on the reform of the international architecture, eliminating all the black holes in international finance, starting with hedge funds and the other purely speculative funds. The G20 intends to regulate only speculative funds that pose a systemic risk. The systemic risk becomes apparent afterwards, when the crisis has erupted. In reality, the leading G20 powers have spared their own offshore centres, the Channel Islands, the Virgin Islands, Hong Kong and Macao, not to mention onshore centres such as Delaware. As Jacques Attali said, in the future, London and New York will have the monopoly on speculation. The message is clear: international finance will be regulated for the benefit of the major countries only. All pigs are equal, but some pigs are more equal than others."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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