Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-390-125"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-09-13"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20110913.34.2-390-125"2
lpv:hasSubsequent	lp_eu:2011-09-13-Speech-2-390-2502
lpv:speaker	lp:Zigmantas Balčytis2
lpv:spokenAs	member; S&D (2009-07-14--2014-06-30)3 unknown; Lietuvos socialdemokratų partija (2009-07-14--2014-06-30)3 substitute; Delegation for relations with the United States (2009-09-16--2014-06-30)3 member; CONT (2009-07-16--2012-01-18)3 member; Delegation for relations with the People's Republic of China (2009-09-16--2014-06-30)3 member; ITRE (2009-07-16--2012-01-18)3 substitute; TRAN (2009-07-16--2012-01-18)3
lpv:translated text	"Export credit agencies (ECAs) collectively account for the world’s largest source of official financing for private sector projects. The collective volume of the export credit guarantees provided in the period 2004-2009 by the ECAs of the EU Member States alone was in the region of EUR 468 billion. ECAs facilitate legitimate trade where the private capital market fails. They have a much higher risk-absorbing capacity than private actors since they do not have to pay taxes and make profit, and hence have more leeway to break even on an extended credit than private banks. For the same reason, ECAs are also potentially a massive distortion of trade if their financing operations are not disciplined by common rules. I welcomed this important document and the proposals contained within it, establishing requirements to submit reports in order to monitor the soundness of the financial operations of the European ECAs, to tidy up transparency requirements, and to make the notification of social and environmental risk calculations mandatory."@en1

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