Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-258"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20100922.20.3-258"2
lpv:hasSubsequent	lp_eu:2010-09-22-Speech-3-8762
lpv:speaker	lp:Miguel Portas2
lpv:spokenAs	member_of_the_bureau; EUL/NGL (2009-07-14--2012-01-22)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2012-04-24)3 substitute; Delegation for relations with Iran (2009-09-16--2012-04-24)3 vice-chair; Special Committee on the Financial, Economic and Social Crisis (2009-10-15--2011-07-31)3 substitute; Delegation for relations with the Mashreq countries (2009-09-16--2012-04-24)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 unknown; Bloco de Esquerda (2009-07-14--2012-04-24)3 member; BUDG (2009-07-16--2012-01-18)3 member; Delegation for relations with Iraq (2009-09-16--2012-04-24)3
lpv:translated text	"I abstained. On the one hand, the macro- and micro-prudential supervision system is a step forward compared with the current situation where supervision is fragmented across different countries. However, the draft legislation on European supervisory authorities is silent on how to deal with financial companies that are already so large and diversified that the Union cannot allow them to fail, given the systemic risk that they present today. It should be made clear in this document that such companies should be broken up, and the parts of the business that work with non-transparent financial products should be closed down. In addition, the document does not address the problem of rating agencies firmly enough. Parliament should have been clearer in stating that the price of sovereign debt cannot be determined by a rating oligopoly that classifies itself as a ‘market’."@en1

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