Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-408-375"

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"en.20110705.34.2-408-375"2
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"This is yet another report that reveals how the EU has been dealing with the multifaceted crisis that is affecting the world; a crisis that has been a disruptive and risk-laden factor in the inflation of the financial sphere. It also seeks to regulate the financial market to a certain extent, without going to the root of the problems. The financial sector of the EU trades in derivatives as this is an area that can evade supervision and regulation, and which is carried out without awareness of the overall magnitude of the risks involved, but merely in the knowledge that these are the basis of massive speculative gains and that they therefore, necessarily, have serious systemic implications. Financial markets derivatives played a prime role in triggering the financial crisis, as they were used for excessive speculation. This regulation proposes the supervision of the EU financial sector with the aim of reducing the risks and the severity of future financial crises, but without tackling the key issue: using this instrument to stop this kind of operation. This crucial matter, which was admitted when the financial crisis was in full swing, has now been put to one side, and the door has been left open for speculation and the consequences thereof, even if we try not to actively invite it in."@en1

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3http://purl.org/linkedpolitics/rdf/spokenAs.ttl.gz

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