Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-026-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:Derivatives, central counterparties and trade repositories (debate)2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20110704.19.1-026-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-027-0002
lpv:speaker	lp:Leonardo Domenici2
lpv:spokenAs	member; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 unknown; Partito Democratico (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; REGI (2009-07-16--2012-01-18)3 member; S&D (2009-07-14--2014-06-30)3 substitute; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3
lpv:translated text	"Mr President, ladies and gentlemen, I too would like to join in thanking Mr Langen and the other Members with whom we have worked to finalise this complex report. I think that Mr Langen made a particularly important point when he said that we wish to maintain the scope of this regulation, keeping faith with the mandate of the G20 in Pittsburgh in 2009. The basic objective was to bring the majority of over-the-counter (OTC) derivatives onto regulated platforms in order to prevent their continuing exposure to a high level of risk and speculation. When it comes down (as it did) to exchanging or guaranteeing USD 400 million without collateral, that is, without adequate reserves, the risks we are running become clear. Having said that, however, I should also like to raise two problems. The first problem is the relationship with the Council; the second problem is the coherence of the proposal for reform of the financial markets that we must take forward. I raise the problem regarding the Council first and I say it very clearly. The feeling is all too often that the Council represents an obstacle to reforming the financial markets swiftly and well. I hope that the new Presidency will take on this problem because this time too we have to factor in an extension that is due in large measure to positions, difficulties and disputes arising in the Council. It is a problem that also affects the procedure that we wish to follow. The second question relates to the coherence and specificity of the provisions. There is not only the measure on OTC derivatives but also the measure on short selling and other matters. I would like to draw attention to two points: the specific issue of the commodities market, a special market that requires special anti-speculation measures, and the problem of the exposure in derivatives of local authorities in EU countries. I think that these are problems on which Parliament must intervene."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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