Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-036-000"

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	"nl"^^xsd:language2
lpv:document identification number	"en.20110704.19.1-036-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-037-0002
lpv:speaker	lp:Corien Wortmann-kool2
lpv:spokenAs	unknown; Christen Democratisch Appèl (2009-07-14--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; Delegation for relations with the United States (2009-09-16--2014-06-30)3 vice-chair; EPP (2009-07-14--2014-06-30)3 substitute; TRAN (2009-07-16--2012-01-18)3 member; ECON (2009-07-16--2012-01-18)3 substitute; FEMM (2009-07-16--2012-01-18)3
lpv:translated text	"Madam President, the trade in complex financial products of which no one could any longer understand the contents or estimate the risks played an important role in the run-up to the financial and economic crisis. It is therefore a positive development that Commissioner Barnier has brought forward these legislative proposals, as we need to obtain transparency in relation to derivatives trading and securities need to be better hedged. Our rapporteur, Mr Langen, has thus produced excellent work in further elaborating these proposals into an ambitious package that also further develops the foundations that we have laid for the European regulator. Derivatives must be traded publicly, as that gives regulators more insight into the trade flows between buyers and sellers and improves their ability to assess risks. I am pleased that account was also taken, in the proposals that we will be voting on tomorrow, of the special character of pension funds, which are already subject to very strict risk management legislation. The issue of risks is dealt with differently there. As things stand, in pension funds there must not be any speculation and the risk must be hedged. They also have to comply with the requirements governing transparency and openness, although not with the clearing obligation – and fortunately that exception has been soundly elaborated in this proposal. The proposal provides for a temporary and partial exception that provides the leeway to find a solution based on a few years of practical experience, whereupon it will then be up to the Commission to determine whether we have found such a solution or whether the period in question will have to be extended. I hope that in this regard, as well as in other regards, the Council – which has still not been able to reach any agreement – will follow Parliament’s lead so that we will quickly be able to reach a final conclusion to this legislation."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph