Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-464"

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	"de"^^xsd:language2
lpv:document identification number	"en.20100706.30.2-464"2
lpv:hasSubsequent	lp_eu:2010-07-06-Speech-2-4652
lpv:speaker	lp:Burkhard Balz2
lpv:spokenAs	substitute; Delegation for relations with the People's Republic of China (2009-09-16--2014-06-30)3 unknown; Christlich Demokratische Union Deutschlands (2009-07-14--2014-06-30)3 substitute; TRAN (2009-07-16--2012-01-18)3 member; ECON (2009-07-16--2012-01-18)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3
lpv:translated text	"Madam President, Mr Karas has already mentioned some key points. I fully concur with him on them. I think that we need better capital requirements for financial institutions in both qualitative and quantitative terms. One thing is therefore certain, namely that the Basel rules need to be developed further. However, it does not help to force the situation as this could have totally the opposite effect. The financial crisis is obviously a global crisis. The lessons we need to draw from it must therefore be drawn at a global level as well. This means that if we tighten capital requirements, we must coordinate this measure internationally too. The level playing field must be retained. Judging in particular by the decisions that have been made in the last few days by our friends in the US, I have certain doubts about this. Another consideration, which is especially important to me, is that the accumulation of current projects must not result in inconsistency. For example, texts and annexes must remain consistent. Calculation examples in the annex must also match the wording. However, the future supervisory authority will be responsible for the interpretation. There is one other thing we should not forget. The financial economy and the real economy are not two self-contained systems. Capital requirement regulations have an impact on the real economy. However, at the moment we do not know exactly what this will be. We therefore need at least to carry out thorough impact assessments before we make any further changes to the legal framework. This has been the negotiating line adopted by the Group of the European People’s Party (Christian Democrats) from the outset. The compromise which has now been reached with the Council is therefore, in my view, the only sensible solution. I wish to thank Mrs McCarthy and Mr Karas, in particular, for the work they have put in to this report."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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