Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-09-16-Speech-3-149"
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"en.20090916.13.3-149"2
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"− Under the codecision procedure, legislative acts are signed by the President of the European Parliament and the current Presidency representing the Council. Before resuming the sitting, a legislative package will be signed to make it effective. Cecilia Malmström, the Minister for European Affairs, will sign on behalf of the Council. I am very pleased that Commissioner Benita Ferrero-Waldner is also with us today.
I would like to say a few words on the legislation we are about to sign today. Today, the eve of the extraordinary summit of the European Union in preparation for the G20 Summit in Pittsburgh is a good occasion to strengthen the role of the European Parliament as co-legislator. I have been asked to represent the European Parliament at the dinner of Heads of State or Government. We, the European Union, will be preparing for our participation in the G20 Summit in Pittsburgh.
Today we have an important package of four different legislative acts under the codecision procedure approved by us in response to the financial crisis. What is in the package? A capital requirements directive, a regulation on credit rating agencies, a new regulation on cross-border payments, and a decision establishing a new programme to support specific activities in the field of financial services, financial reporting and audit.
The directive and the regulations are aimed at protecting EU investors and the European Union’s financial system, and at increasing consumer rights guarantees and ensuring better supervision. These acts are aimed at stabilising the financial markets. We are thereby fulfilling the predictions, but the legislation we are signing was drawn up by Parliament in the previous term. Would Minister Malmström like to take the floor before signing the legislative acts?"@en1
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