Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-04-28-Speech-2-937-000"
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"en.20150428.41.2-937-000"2
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"Madam President, I would like to thank Commissioner Hill and all my colleagues for their remarks. I strongly believe that we do have a sound and stable agreement.
On the clause: we have to recognise that this agreement is the result of lengthy negotiations which entailed give and take by all. I have stated from the beginning that this clause is a red line for my group. I am not convinced that it will prevent the LVNAV (low-volatility net asset value) from taking off. I think the financial sector is very innovative and I am sure they will make it work.
I also wanted to raise the issue the Greens and the GUE/NGL Group have pointed out. I think they have a very fundamentalist view on this file. It is all about their point of view and nothing else. When you look at it broken down, it means protection of one part of the industry and not the other. What really concerns me is that this approach will lead to nothing at all and a continued unregulated MMF sector. Even if I have sympathy with some elements of your proposals, I do not believe this is the place where they should be included. On other issues, I am frustrated by the inconsistent approach because earlier you wanted a clause at ten years and then it came down to five years, which is what we have at the moment.
I want to take this opportunity to thank everybody who has been involved. I want to start by thanking Brian Hayes, Petr Ježek, Eva Joly, Fabio De Masi, Syed Kamall and their teams for spending a huge amount of time in a fishbowl-shaped room for hours negotiating on this. Thank you to them. I would also like to thank my coordinator, Elisa Ferreira, for all the support and engagement that she has had, Roberto Gualtieri for his engagement, Stine and the Secretariat and my own assistant, Jan Moens, for their support. Without you I would not have got here."@en1
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