Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-048"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-11-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20111115.27.2-434-048"2
lpv:hasSubsequent	lp_eu:2011-11-15-Speech-2-434-0512
lpv:speaker	lp:Andreas Mölzer2
lpv:spokenAs	substitute; AFCO (2009-07-16--2012-01-18)3 member; NA (2009-07-14--2014-06-30)3 member; AFET (2009-07-16--2012-01-18)3 member; Delegation to the EU-Ukraine Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 unknown; Freiheitliche Partei Österreichs (2009-07-14--2014-06-30)3 substitute; Delegation to the EU-Chile Joint Parliamentary Committee (2009-09-16--2014-06-30)3
lpv:translated text	"By enacting the regulation on short selling and certain aspects of credit default swaps, the European Union is attempting to standardise the restrictions in this area which have previously been applied by individual Member States. Credit default swaps act as insurance against defaults on loans and also on sovereign bonds. However, it is now possible to buy these products without being a creditor or an owner of sovereign bonds oneself. In this case, it is an advantage if a company or a state cannot meet its financial obligations, because the insurance amount is ultimately paid to the owner of the credit default swaps. It goes without saying that these two financial instruments can cause increased instability on the markets in particular in times of financial and economic crisis and, therefore, must be subjected to restrictions. In a globalised financial world, it makes more sense for all the EU Member States to take a joint approach, which is why the regulation represents a step in the right direction. It is for this reason that I have voted in favour of the report."@en1

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