Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-092-000"
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"en.20110704.21.1-092-000"2
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"Restrictions on short selling and credit default swaps in exceptional situations have long been overdue, as is the need for more transparency from financial markets. Parliament rightly found it appropriate to have a common framework rather than to rely on a number of divergent measures by Member States, as experienced during the financial crisis three years ago. These obligations come in the wake of various other reforms to past regulatory regimes. It is easy to jump on the bandwagon at this time and argue that more regulation is better because we do not want to live through another crisis in our lifetime. But at the same time we all want to look forward to a future where industry, both manufacturing and services, provides much-needed jobs, based on strong economic growth. For this we need many bankable projects. Let us therefore satisfy ourselves that there is no unintended collateral damage to industry from financial regulation. We do not want EU project funding to be curtailed by a drought of liquidity, nor do we want their responsibility in mitigating risks to become prohibitively expensive so as to make them lose their competitiveness."@en1
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