Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-069-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:Short selling and certain aspects of credit default swaps (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20110704.21.1-069-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-070-0002
lpv:speaker	lp:Markus Ferber2
lpv:spokenAs	vice-chair; Delegation to the EU-Mexico Joint Parliamentary Committee (2009-09-16--2014-06-30)3 substitute; TRAN (2009-07-16--2012-01-18)3 substitute; Delegation for relations with Israel (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2014-06-30)3 unknown; Christlich-Soziale Union in Bayern e.V. (2009-07-14--2014-06-30)3 member_of_the_bureau; EPP (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, Commissioner, ladies and gentlemen, it is right for us to debate this important proposal from the Commission here in plenary today and for us to lay down our position as the European Parliament tomorrow, because discussions in recent weeks – with all respect to the Hungarian Presidency, which has tried very hard to bring the Council and Parliament closer together on this – have shown that the Council of Ministers still needs to be motivated into adopting rules that allow what is necessary, but which prohibit what is not necessary. Let me say quite plainly that I can hardly stand to hear the word liquidity any more. If there was one problem that was to blame for leading us into the financial crisis, it was that there was too much liquidity that was invested in products that nobody needs and which then collapsed and took us into the crisis. I ask you therefore: who is it that needs insurance against a government defaulting on its commitments? Only those that hold such government securities, and they should indeed have it. Anyone speculating on a country being unable to meet its commitments, however, should not be able to use such instruments to do so. That is why these products must be prohibited. When it comes to the short selling of shares – in other words, selling shares that one does not have – it is a matter of drawing up rules that prevent highly speculative behaviour. I believe we have achieved a reasonable compromise here, and in this respect discussions with the Council have been very constructive. I would like to thank the rapporteur for his outstanding work. I would also like to thank the shadow rapporteurs for their constructive discussions, and also the Commission, which has played a very positive part in achieving this. Moreover, I hope that, for its part, the Council – which is unfortunately not represented here today – will be able to agree a sensible resolution of this matter with us as soon as possible. With that in mind, I am pleased that we – as Parliament – are now sending out a clear signal as regards this important dossier."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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