Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-07-07-Speech-2-719-000"
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"en.20150707.40.2-719-000"2
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"Madam President, the rapporteur supports the Commission’s proposal to introduce a market stability reserve on the basis that this reform will govern fluctuations in the market, providing long-term predictability and stability to European industries. This is untrue. Mechanisms like the ETS, the back-loading system and now the MSR are one of the main causes of the impoverishment of our industries. The idea that the ETS and its traded CO2 emissions will send a signal to the market, thus promoting energy conservation and new low-carbon technologies, has proved to be a failure.
Recognising the ongoing failure of the ETS, the Commission now proposes to introduce a market stability reserve. However, what many do not realise is that a market mechanism, requiring constant regulatory intervention to maintain the price levels originally foreseen, is in itself a contradiction, as markets are supposed to set their own prices autonomously. We should not support plant closures, carbon leakage, and industry and job losses. We need to reinvigorate the declining EU economy with a new competitive approach."@en1
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