Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-717-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-05-10"^^xsd:date2
dcterms:Is Part Of	lp_eu:Stress tests of the EU banking sector (debate)2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20110510.68.2-717-000"2
lpv:hasSubsequent	lp_eu:2011-05-10-Speech-2-718-0002
lpv:speaker	lp:Jean-Paul Gauzès2
lpv:spokenAs	unknown; Union pour un Mouvement Populaire (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 member_of_the_bureau; EPP (2009-07-24--2014-06-30)3 member; Delegation for relations with the Korean Peninsula (2009-09-16--2014-06-30)3 substitute; AGRI (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3
lpv:translated text	"Mr President, Commissioner, as you acknowledged just now, last year’s tests have not had the anticipated effects. We ought to avoid the same errors of conception and implementation. The fields of investigation must be consistent and similar. There will be no stabilisation if the diagnosis is not correct. Governments must be aware of that. This being so, the tests must quite clearly be realistic. The solutions that you have just given us, in a particularly detailed fashion, are of a kind that can provide an answer to our questions. It is now the job of the European Banking Authority, in supervising and examining the conclusions of these tests, to give a first test of its effectiveness. The tests must allow us to better define the potential recapitalisation needs of the banks and to take the measures that you have just mentioned. However, performing credible stress tests is the best way to calm the financial markets and to limit the influence of credit rating agencies and the negative effects of their decisions on the whole of our economy. The credibility of the results of these tests can end the dependency on these agencies, or at least can reduce it. The supervisory authorities have no choice but to ensure that the tests are successful; that is, that they provide convincing evidence. Let me use my allotted time, Commissioner, to draw your attention to the fact – in my opinion, a serious one – that the legislation relating to credit rating agencies, which has now entered into force, has not been applied, and that the authorities to which these agencies submitted their files did not take steps to inform them of the requirements of the agreement. We planned a transitional period pending the establishment of the European Securities and Markets Authority, yet today we are continuing to act as if nothing had happened."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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