Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-226"

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"en.20100922.20.3-226"2
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"This report is part of what is known as the financial supervision package. When voting on it, we bore in mind the way in which the Council, the Commission and Parliament itself delayed measures in this area and confined themselves to adopting decisions that do not alter the basic issue, which is financial speculation, including the question of insurance on sovereign debt, which acts as a highly speculative derivative. Unless they put an end to it, the establishment of European authorities in these areas will be virtually useless. Our vote against the report is, above all, a protest against the fact that we have yet to see any proposals on putting an end to tax havens, levying a tax on capital movements, or closing the derivatives market. That means that the main financial speculation mechanisms remain in the market and that the measures taken now are aimed more at facilitating control by the major powers and their financial groups over Member States with more fragile economies than at tackling the issue of financial speculation head on and stamping it out."@en1

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