Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-385-000"

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"en.20121025.28.4-385-000"2
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"Mr President, ladies and gentlemen, I will be brief. Firstly, I am pleased that I have such wide support, from the extreme left to the extreme right. I do not know whether this is a good thing – but perhaps it is helpful to have found a compromise in the middle. Secondly, I want to point out here that we are talking about financial market regulation. Therefore, it depends on which markets trading takes place on. Trading in financial products always involves risk: there is no such thing as a risk-free financial market. If you demonise financial markets per se, you will be unhappy with any regulation. This was not our intention. It was our intention, on the one hand, to ensure that every trade in financial products takes place within a regulated framework and, on the other hand, that these financial markets generate added value for the economy and do not exist purely for their own sake. If we have anything to learn from the time before 2008 it is that financial markets acted independently and did not generate any added value for the real economy – this has been the painful experience of recent years. As a result, we have produced something together. My heartfelt thanks, therefore, go to all the shadow rapporteurs who collaborated on this report. We will have the privilege of holding meetings with the Council over the coming months in order to produce a good result. I hope that we can take the good spirit we have maintained in discussions over almost a year into those negotiations."@en1
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