Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-14-Speech-2-529"
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"en.20101214.37.2-529"2
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"Mr President, ladies and gentlemen, first, I would like to come back to the fact that many good questions have been asked in this debate. Commissioner Barnier addressed them one by one. I would simply like to say to you that this modification, this amendment of the regulation, is a first step in granting the necessary supervisory powers to the European Securities and Markets Authority, and that, as has been said, other revisions of this regulation will take place shortly. I think that, on this issue, and on many other important issues raised today, this will truly be an opportunity to bring together the whole debate in the revision which the Commission is getting ready to propose to us.
On the same note, I would like to return for a few moments to the removal of the provisions on transparency of credit ratings and associated information, which Commissioner Barnier himself mentioned just now. I do not think that this in any way means that the European institutions do not support the idea of transparency of credit ratings – quite the contrary. However, at this stage, when a decision is being taken, the best solution was to coordinate ourselves in advance on the basis of developments on the international stage, in order not to affect the competitiveness of the European markets. For the moment, therefore, better solutions to this issue are still being researched, discussed and developed, and we think that the best political compromise is the one on which you will be voting tomorrow.
In conclusion, I would like to repeat that this is an important step, as many of you have stressed, which will help to improve the stability of the financial markets and which will support the development of a more effective supervisory framework."@en1
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