Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-316-500"
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"en.20120329.36.4-316-500"2
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"This report, drafted by Mr Langen, concerns the proposal for a regulation of the European Parliament and of the Council on over-the-counter (OTC) derivatives, central counterparties and trade repositories. According to the report, OTC derivatives lack transparency as they are privately negotiated contracts and the conditions of the deal are not public, making it difficult to identify the nature and level of risks involved, as the present financial crisis has demonstrated. As such, there is a need to create mechanisms making this entire process more transparent and limiting the risks of this business, thereby making the public safer and the economy more stable. They should therefore be compensated through central counterparties and communicated to trade repositories, with companies taking responsibility for the risks that they take. Therefore, in view of the report by the Committee on Economic and Monetary Affairs, as well as the opinions of the Committee on Industry, Research and Energy and the Committee on Legal Affairs, I am voting for this proposal."@en1
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