Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-927"
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"en.20100615.24.2-927"2
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"Mr Langen’s report proposes a set of measures that aim to make the derivative financial product market more transparent. In view of the way the financial crisis of 2008 came about and the fragility that such complex products have imposed on the markets, it is undoubtedly a promising step to introduce greater stability and transparency. I therefore voted in favour of the Langen report.
We should nevertheless stress another point, which is a basic principle in any discussion of finance, the economic crisis and the market. Quite apart from any derivatives and intricate financial engineering, the 2008 crisis, which determined negative knock-on effects that still weigh heavily on our society, came about due to the fact that we mistakenly believed for all too long that we did not have to consider the real economy. I therefore welcome any current measure to promote the transparency of financial markets and products offered by banks and share markets, but we must all remember that we urgently need to rethink the economic system on which the world markets rest. Our choice must therefore be aimed at strengthening the real economy, the only certain source of wealth and lasting stability."@en1
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