Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-376-156"
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"en.20110511.28.3-376-156"2
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"I welcome this report. The aim of the Green Paper under consideration here is to draw conclusions from the global financial crisis triggered by the bankruptcy of the Lehman Brothers bank in autumn 2008 following the inappropriate securitisation of US subprime mortgages. In the light of the development of new financial instruments in a globalised world, the Green Paper takes a critical look at the soundness of financial institutions and of the financial system as a whole, and at the regulation and supervision of the system, with a view to preventing any repeat of the crisis in the future. The Commission regards the strengthening of corporate governance as central to its financial market reform and crisis prevention programme. In that connection, the Commission notes, in particular, that in the financial services sector, corporate governance must take account of the interests of other stakeholders (depositors, savers, life insurance policy holders, etc.) and of the stability of the financial system, owing to the systemic nature of many of the players involved"@en1
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