Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-071-000"
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"en.20111012.14.3-071-000"2
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"Mr President, Commissioner, what we need to do is to restore confidence: to restore the confidence of the public, to restore the confidence of economic operators, and to restore the confidence of the markets. We will not convince the markets by endlessly proposing to increase the funds mobilised for bailouts. On the contrary, we will weaken our position. We will not convince the markets by announcing, day in day out, measures that are not enforced. We will not convince the markets by showing that the banks need to be recapitalised but not indicating how or why. We will not convince the markets with rules that, once decreed, are not applied.
This is the case where rating agencies are concerned, Commissioner. The three main rating agencies are still not accredited, are still not supervised, and continue to put an excessive strain on the financial markets. It is therefore time to do something to convince the markets, Commissioner. The European institutions need to solve the real crisis, that of policy making. It is up to the President of the Commission and you to adhere strictly to the principles that you have defined and with regard to which you have the support of Parliament."@en1
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