Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-077-000"

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"en.20111116.5.3-077-000"2
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"It has been almost one month since 26 October and Europe is still powerless when it comes to deciding on such cardinal issues as the calming of the European markets or the objective management of the ratings of credit institutions. Europe can only be taken seriously if it is able to offer the citizens genuine, forward-looking answers. That is why I envision our activities in two dimensions: a short-term dimension which refers to tasks that need to be completed immediately, and a long-term one that pertains to several decades, and guarantees economic growth and job creation, that is, European prosperity. However, in order for us to be able to keep our long-term strategies – which are based on mutual solidarity and are often not without serious tradeoffs – such as the creation of the common financial supervision or the launching of economic governance, we must not allow short-term goals and actors from outside of Europe to make the achievement of our common goals impossible in any way. It is welcome that after a long time the Commission has initiated the stricter regulation and legal accountability of credit rating agencies, but it is shocking and perplexing that the proposals on the temporary suspension of ratings and the creation of a European credit rating agency have been postponed. I therefore urge the Commission to create as soon as possible a European credit rating agency that is intimately familiar with the moods of the European markets and is fundamentally interested in the upturn of the European economy in order to create a stable and predictable European economic atmosphere, which can be considered the key to our future."@en1

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