Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-25-Speech-2-424-000"
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"en.20111025.25.2-424-000"2
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"Although the increase in global economic growth over recent decades has resulted in greater prosperity, millions of people still live in poverty because of the uneven distribution of wealth. Current-account imbalances are the consequence of imbalances in domestic economies. The lack of regulatory and supervision mechanisms for the global financial system have led to weaknesses in the global financial sector. It is now important for us to combat the imbalances both in the countries with surpluses and in those with deficits. We need a cautious monetary policy and stricter financial regulation.
The EU should play a leading role in reforming the international monetary and financial system and take an increasingly united stance. It should become more involved in World Trade Organisation (WTO) activities and work towards finding solutions which involve better coordination between the ‘G’ groups and the United Nations systems. The European Parliament is now proposing that the EU supervisory authorities should take the lead in building international cooperation and in establishing reliable instruments for financial regulation. In this context, a joint financial regulation framework covering the USA and the EU is desirable. I have voted in favour."@en1
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