Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-02-Speech-4-369-000"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20120202.31.4-369-000"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"The financial and economic crisis which broke out in autumn 2008 has not yet been overcome and financial turmoil and recessionary fears have once again become acute in recent months. Between 1 October 2008 and 1 October 2010, the Commission took more than 200 decisions on State aid for the financial sector. In 2009, the nominal amount of aid to the sector used by Member States constituted EUR 1 107 billion, and the maximum volume of Commission-approved measures since the beginning of the crisis until 1 October 2010 amounts to EUR 4 588.90 billion.
Sizable amounts of State aid given during the crisis in the form of, for example, guarantee schemes, recapitalisation schemes and complementary forms of liquidity support on bank funding have contributed to severe imbalances in public finances, while it is still unknown how far-reaching the impact of this State aid will be, in particular the impact of guarantees provided to banks.
Protectionism and non-enforcement of competition rules could deepen and prolong the crisis even further. Competition policy is an essential tool to enable the EU to have a dynamic, efficient and innovative internal market and to be competitive on the global stage. I firmly believe that it is important to foster competition in all sectors, and that efforts for global convergence of competition regulation and the activities of the International Competition Network are of great significance."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples