Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-459"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-07-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies - Remuneration of directors of listed companies and remuneration policies in the financial services sector (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20100706.30.2-459"2
lpv:hasSubsequent	lp_eu:2010-07-06-Speech-2-4602
lpv:speaker	lp:Sharon Bowles2
lpv:spoken text	"Madam President, the reform of bank capital is Europe’s most important legislative response to the crisis so far and it deserves big billing. Yes, I mean up there alongside the supervisory architecture. Under-capitalised trading books were a fundamental cause of the crisis, making speculative proprietary trading attractive and almost cost-free. So the three- to four-fold increase of capital required against such trading positions should be welcomed as directly addressing the root cause of the crisis and cutting down on the motive for casino banking. On remuneration, when I first suggested that big bonuses and pension lump sums could be paid in subordinated debt, many said that this could not fly. So I thank the rapporteur and my fellow shadows for supporting this idea, which we transformed into contingent capital and is already becoming part of mainstream thinking elsewhere. I regret that my specific tax-avoidance texts could not be included, but we have prohibited payment in ways designed to undermine the purpose of the directive."@en1
lpv:spokenAs	substitute; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member_of_the_bureau; ALDE (2009-07-20--2014-06-30)3 member; Conference of Committee Chairs (2009-07-16--2012-01-18)3 chair; ECON (2009-07-16--2012-01-18)3 substitute; Delegation for relations with the United States (2009-09-16--2014-06-30)3 unknown; Liberal Democrats Party (2009-07-14--2014-06-30)3 substitute; JURI (2009-07-16--2012-01-18)3
lpv:unclassifiedMetadata	"Sharon Bowles,"1 "on behalf of the ALDE Group."1
lpv:videoURI	<go to Events_and_structure europarl>2

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