Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-07-Speech-4-018-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-04-07"^^xsd:date2
dcterms:Is Part Of	lp_eu:EIB annual report for 2009 (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20110407.3.4-018-000"2
lpv:hasSubsequent	lp_eu:2011-04-07-Speech-4-019-0002
lpv:speaker	lp:Kay Swinburne2
lpv:spoken text	"Mr President, Parliament has spent many hours in this Chamber discussing how to make the European Supervisory Authorities responsible for our financial services into the most transparent and accountable of organisations. The result has been to establish ESAs, which are fully scrutinised by this Parliament. However, in this new age of accountability after the financial crisis, and in the light of the changes brought about by the Lisbon Treaty, we need to establish comparable levels of oversight and scrutiny of existing EU institutions, including the EIB. Given how central the role of the EIB has become in financing EU Member States’ strategies and EU overseas activity, it is now time to improve the level of accountability of its activities to this Parliament. The loan book and the general banking and lending activities of the EIB need to be assessed in the same way as we would assess our commercial banks. They need to be subjected to rigorous stress testing and all financial activities need to remain on the balance sheet. When leverage or risk is employed, we should be sanctioning the risk limits, as ultimately any default means that it is the taxpayer who will pay again. It is time for this Parliament to seek a closer role in scrutinising the activities of the EIB, especially as the Bank’s role increases in developing new financial instruments."@en1
lpv:spokenAs	member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2012-03-27)3 substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2009-09-16--2014-06-30)3 substitute; Delegation for relations with the Palestinian Legislative Council (2009-10-19--2014-06-30)3 unknown; Conservative Party (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member; PECH (2009-07-14--2014-06-30)3
lpv:unclassifiedMetadata	"Kay Swinburne,"1 "on behalf of the ECR Group."1
lpv:videoURI	<go to Events_and_structure europarl>2

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