Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-415"

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"en.20100706.28.2-415"2
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"In truth, until now, many of us politicians have been unable to answer one simple question: why did this financial crisis happen, where were we before and why were we unable to forecast that it would be like this? In my understanding, we left a simple issue, the issue of control, to the financial market actors themselves. I think that today, the establishment and emergence of these three institutions is unavoidable and this really must be done. Data which will be collected by those three institutions will be very important and will be partially confidential. I believe that, as the Member of the Commission, Mr Michel Barnier, mentioned, for the main chain to be completed, we need the establishment of a European rating agency. If we have a closed circuit, in future we will be able to use the data we have collected to increase the competitiveness of the European market."@en1
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