Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-02-Speech-4-373-013"
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"en.20120202.31.4-373-013"2
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"To serve the general interest better, we have now been fighting for 40 years against cartels, abuses of dominant position and illegal State aid. This founding policy has allowed healthy competition between companies and now ensures that consumers can have better quality and a wider choice of products and services at more affordable prices. We must, however, continue our efforts in markets which, up to now, have been little known but which have been brought out into the light in the crisis over excessive bonuses. Consequently, I unreservedly support this report, which sets out a valid diagnosis of the ratings agencies. Their defective assessments in 2007 and their publishing errors in 2011 have aggravated the historic crisis that we are experiencing and have shown us the need to put an end to this oligopoly. In order to establish more accurate, more responsible diagnoses, we must have greater competition in the financial analysis field, whilst boosting the credibility of the small agencies. This regulation will not, in any respect, be a way for Member States to renege on their commitments to controlling spending. It is merely about ensuring that the global finance thermometer is working properly."@en1
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