Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-028-000"

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	"en"^^xsd:language2
lpv:document identification number	"en.20110704.19.1-028-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-029-0002
lpv:speaker	lp:Kay Swinburne2
lpv:spoken text	"Mr President, the cornerstone of today’s package on financial products, EMIR, was the focus of global agreement, via the G20, regarding future legislation on derivative instruments. I would like to thank the rapporteur, Dr Langen, and his team for ensuring that the global dimension of this regulation has been considered. I believe that the Langen report has demonstrated that the democratic process, both here in the Parliament and other EU institutions, including the Commission, is working. Although aimed at modifying the use of derivatives through increased transparency of reporting, and, where applicable, reducing counter-party risk through central clearing, this has been an example where the most vocal and persuasive voices shaping this legislation have been those delivering growth and value in the European economy, namely businesses, large and small, from many Member States. The report presented to plenary this week considers proportionate responses to different derivative products based on risk, considers the end-users of such products when used for hedging business purposes and takes into account the needs of millions of European savers and pensioners. We must now ensure that technical details, in particular on segregation, third countries and different types of collateral, are suitably addressed. Where there are overlaps on to other legislative reports such as MiFID, MAD and CRD, we must ensure that the principles established in this regulation are delivered throughout and that our European businesses are not at any stage disadvantaged. Such treatment of non-financials must be ensured in subsequent legislation so as not to discourage genuine business hedging, which would have a significant impact on risk management in the real economy."@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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