Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-07-03-Speech-3-260-000"
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"en.20130703.34.3-260-000"2
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"Mr President, a believer in the free market, I am disappointed in this EU scheme and how it has been managed. The whole point of the Emissions Trading Scheme was to create a way for the market to set a price on carbon emissions and thereby use market tools to aid environmental priorities. The market forces have acted: businesses have priced in the extra charges and financial market participants have created a secondary market which supports these activities.
The EU may not be happy with the results, but ultimately if you decide to create market mechanisms you have to deal with the resulting prices. Changes in the rules of the game half way through are unfair on those who have made long-term business decisions based upon supply and demand and current prices. I am strongly opposed to any market interventions based solely on price, and the level of uncertainty this gives to all EU projects going forward is unacceptable. If the ETS is functioning that badly, we need to start again, not tweak at the edges."@en1
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