Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-194-000"
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"en.20121026.23.5-194-000"2
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"Mr President, the market can obviously regulate many things, but not everything. Things go particularly wrong when we have a market without rules. Unfortunately, that has been made very clear to us in the case of the financial market. That was a game without rules. We tried to reassure ourselves a little by saying: ‘Of what interest are stock market transactions to us? Of what interest is the financial market to us? That has nothing to do with the real economy. That has nothing to do with public finances’.
We then made the painful realisation that when prices fall, errors are made or bankruptcies occur in this sector, it evidently does have consequences for the real economy and for public finances, as, ultimately, we are inextricably linked to the world and the market and are consequently all in the same boat. It is therefore very important that, politically, too, we are finally able to impose restrictions and establish rules. For me, that is a vital initial step in the right direction and must be followed by others."@en1
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