Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-11-Speech-4-201"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-11-11"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20101111.21.4-201"2
lpv:hasSubsequent	lp_eu:2010-11-11-Speech-4-2022
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	vice-chair; Delegation for relations with the countries of Central America (2009-09-16--2012-01-17)3 unknown; Coligação Democrática Unitária (PCP-PEV) (2009-07-14--2012-01-17)3 vice-chair; EUL/NGL (2009-07-14--2012-01-17)3 vice-chair; EMPL (2009-07-16--2012-01-17)3 member; FEMM (2009-07-16--2012-01-17)3 substitute; ITRE (2009-07-16--2012-01-17)3 substitute; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2012-01-17)3 substitute; Delegation for relations with the Mercosur countries (2009-09-16--2012-01-17)3
lpv:translated text	"This is the first European directive that will regulate high-risk investment funds – hedge funds – and is the culmination of a negotiation process that has lasted more than a year. As the document says, the new rules aim to control the activities of managers and ensure greater transparency in the management of these funds, to protect investors and promote the stability of the financial markets. However, in truth, we have not got to the bottom of this issue: these speculative funds have not been abolished and there is still a derivatives market, meaning that the mechanisms allowing speculation still exist. An excellent opportunity to properly regulate the financial markets has been wasted. The Council and the majority of the European Parliament yielded in the face of enormous pressure from the financial lobby. The financial crisis has shown that the origins of the global financial system’s dysfunctions are, firstly, excessive exposure to risk – these funds are an example of this – and, secondly, the weakness of the systems for managing this risk. The new European regulations establish common requirements for the authorisation and supervision of hedge funds, but they are far from preventing the continuation of serious systemic risk. We cannot, therefore, vote for this proposal. However, new directives are being debated and negotiated, so it is still possible to get to the bottom of the issue, specifically to put an end to these speculative funds. We will see."@en1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph