Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-340-500"
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"en.20110913.34.2-340-500"2
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member; Delegation for relations with the countries of the Andean Community (2009-09-16--2014-06-30)3
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"While I consider some aspects of this report to be positive, I have not voted in favour of it because it makes an unsatisfactory, blank response to the most important issues to be tackled: the concentration and oligopoly that exist in the audit firm market; the lack of independence and transparency; the strict monitoring and regulation that should govern the activity of these agencies; and the need to put an end to the financial speculation they carry out. While it is positive that the report addresses part of those problems, it nevertheless bases its answer on the free market system and does not take into account what happened with the current crisis. Therefore, the solutions it proposes leave aside the public intervention that is needed and place full faith in the idea that the free market will resolve those issues. I did not vote in favour of this report because I do not share the belief – and the current crisis has proved the point – that the free market can solve people’s problems, other than increasing the wealth of a small group. In this area, as in many others, public intervention is vital if we are to avoid making a few people even richer through speculation and the deterioration of the general public’s well-being."@en1
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