Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-07-Speech-4-333"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-10-07"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20101007.29.4-333"2
lpv:hasSubsequent	lp_eu:2010-10-07-Speech-4-9302
lpv:speaker	lp:Vito Bonsignore2
lpv:spokenAs	member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2010-03-10--2014-06-30)3 substitute; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 unknown; Il Popolo della Libertà (2009-07-14--2014-01-22)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; BUDG (2009-07-16--2012-01-18)3 vice-chair; EPP (2009-07-14--2014-06-30)3 substitute; PECH (2010-03-10--2012-01-18)3 substitute; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 member; Delegation for relations with the Mashreq countries (2009-09-16--2014-06-30)3
lpv:translated text	"I welcome the excellent work done by the rapporteur, Mr Karas, in preparing an invaluable own-initiative report on the reform of Basel II to strengthen the banking system in the light of the financial crisis. Europe must, in fact, play more of a part in this phase of the negotiations so that we can avoid a possible penalisation of the European economic system and distortions of competition. Compared to the US system, the European system is mainly financed by bank lending, but the financial crisis of the last few years in Europe and the resulting lack of liquidity have led to a drastic reduction in loans to small and medium-sized enterprises, which form the backbone of our economy. I voted in favour of this document because I am convinced that in the negotiations on the reform of Basel II, the EU must strive to obtain equal terms with the United States on accounting standards, parity of requirements between commercial banks and investment banks, an unambiguous definition of liquidity and greater transparency with regard to the role of rating agencies. In order to cope with future periods of stress, we must henceforth provide ourselves with a greater quantity and quality of capital and greater liquidity. At the same time, it would be expedient to take countercyclical measures and create economic surpluses."@en1

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