Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-408-500"

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	"pt"^^xsd:language2
lpv:document identification number	"en.20110705.34.2-408-500"2
lpv:hasSubsequent	lp_eu:2011-07-05-Speech-2-408-6252
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	vice-chair; Delegation for relations with the countries of Central America (2009-09-16--2012-01-17)3 unknown; Coligação Democrática Unitária (PCP-PEV) (2009-07-14--2012-01-17)3 vice-chair; EUL/NGL (2009-07-14--2012-01-17)3 vice-chair; EMPL (2009-07-16--2012-01-17)3 member; FEMM (2009-07-16--2012-01-17)3 substitute; ITRE (2009-07-16--2012-01-17)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2012-01-17)3 substitute; Delegation for relations with the Mercosur countries (2009-09-16--2012-01-17)3
lpv:translated text	". This is another report that has been submitted in an attempt to regulate the financial market to a certain extent, without going to the root of the problems. Indeed, 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. This regulation therefore 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: putting a stop to this kind of operation, as we have proposed. We proposed in plenary that since financial markets derivatives played a prime role in triggering the financial crisis, as they were used for excessive speculation, and given that there are other ways of covering commercial risk, derivatives be abolished. Unfortunately this proposal, which we supported, was rejected. However, the final vote on the report was delayed in order for Parliament to negotiate the approved proposals with the Council. It will then come back to plenary for the final vote."@en1

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