Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-199-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-05"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20110705.34.2-199-000"2
lpv:hasSubsequent	lp_eu:2011-07-05-Speech-2-200-0002
lpv:speaker	lp:Syed Kamall2
lpv:spoken text	"Mr President, one of the things that was quite disappointing about the whole debate on short selling was the use of the word ‘morality’. My political opponents were saying that surely it was immoral to sell something that you do not own or that you do not yet own. On the surface that might strike one to be a compelling argument, but then you have to look at commerce and the way it acts. Farmers and the agricultural sector short sell. They sell the products that they have not yet produced, often seasons ahead. Online companies often do not hold things like books and other products in stock. They sell those products before they have actually got access to them. What is immoral about that short selling as long as there is a reasonable expectation that they can provide that product or service? At the same time, governments often short sell when it comes to their bonds, yet my opponents wanted to ban that. Fortunately we did not ban it. What we are trying to ban is uncovered sovereign CDSs where these are used as a proxy hedge on investments in countries that are in trouble. Surely, if we want to create jobs, we should not be banning these things."@en1
lpv:spokenAs	substitute; INTA (2009-07-21--2012-01-18)3 substitute; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member; PECH (2009-07-14--2013-11-18)3 substitute; JURI (2011-06-08--2012-01-18)3 substitute; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3 member; ECON (2011-06-08--2012-01-18)3 member; 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--2012-02-01)3 unknown; Conservative Party (2009-07-14--2014-06-30)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3
lpv:unclassifiedMetadata	"Syed Kamall (ECR ). -"1
lpv:videoURI	<go to Events_and_structure europarl>2

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