kfajdsl/voxpopuli huggingface dataset:
mr president colleagues i am very happy that parliament has taken the time to discuss the issue of the upcoming world conference on international telecommunications. too often when important positions on how we can communicate or not are taken at an international level they escape the eye of the public
and they do not get sufficient attention.
i do believe that parliament has shown in this last week that it is able to represent the interests of the public when it comes to international telecommunications.
we have drafted a resolution which shows very clearly where the parliament stands on issues of regulating the internet and information and communication technologies.
we also addressed the issue of transparency in the wcit and itu processes that was brought up by the council earlier this evening.
i would like just to extend my thanks to colleagues from all of the political groups for their collaboration and i hope that the council and the commission will take our proposals on board in their future work.
for the reasons which have been mentioned small businesses also in the us depend largely on banks and will continue to do so.
our financial market has become more fragmented.
therefore please do not promise too much.
i think it is important to reconcile this project with european values.
we also have to acknowledge that confidence in the financial services has taken a knock.
so how do we restore this position?
however there are many difficult political obstacles that we need to tackle and many colleagues have referred to them the lack of consistent implementation by member states the twenty nine different tax regimes for debt and likewise for insolvency procedures.
many procedures remain a nightmare for retail investors and businesses alike.
given that cmu should have been in place a decade ago it is high time that we step up a gear on this.
we have a good paper that demonstrates in a clear way the priorities of parliament on cmu to increase growth and jobs across the eu and more critically that underlines that growth has to be sustainable and should not prejudice financial stability.
one way could be if the commission came forward with an ambitious retail package tackling the cross border obstacles that citizens and businesses are faced with in financial services.
does the commission have any plans to tackle these in the near future? furthermore if we are going to review the cmu over the next four years is it not an omission not to address the technological innovations in the financial sector? this is evolving very fast but the regulators and legislators are not keeping up with it.
we will review our venture capital regulation;
to broaden the range of financing options for smes to complement banking and to improve the funding conveyor belt.
we will review the prospectus directive to make it easier for larger smes to raise money on the public markets;
this is a classic single market project for all twenty eight member states for those without developed capital markets as well as for those with.
that will help banks to lend more including to smes.
it will require sustained effort over a number of years but we need to make quick progress so i hope that these first proposals can be fast tracked by the co legislators.
i look forward to developing this project with you but most of all i look forward to helping more european businesses especially smes get the funding they want in order to increase choices for savers to strengthen cross border investment and also i believe to increase financial stability.
i think that members of this committee know better than anyone about the steps taken over the last five years to improve the regulation of capital markets.
they will include a comprehensive package on securitisation with updated calibrations for solvency ii and crr the definition of infrastructure and revised calibrations for solvency ii and these proposals to review the prospectus directive.
on supervision respondents to the consultation argued that the esa's existing set of powers are sufficient but some also called for greater supervisory convergence to ensure a level playing field.
in terms of next steps we are on track to publish our action plan in september.
your resolution also rightly argues that we should take stock of the overall impact of financial regulation and be proportionate in our measures and i agree with that.
we also need to consider our overall macro prudential framework.
we are also looking at how we could improve sme credit information to make it easier for smes to attract investment.
concrete proposals will follow shortly afterwards.
this is an ambitious programme.
we will seek to free up bank balance sheets by reviving the eu market for securitisation through the identification of simple transparent and standardised securitisations.
we will strengthen our venture capital industry;
we have all seen examples of european ideas and european businesses going to the united states for their funding. i want those businesses to stay and grow here in europe.
indeed i would argue that it is member states without strong capital markets which could stand to gain the most because cmu will help create the conditions for capital to flow across borders and to smes no matter where they are. to help this flow we will look at venture capital at angel investing at crowd funding and at private placement. it is as we have already heard a major priority of the cmu
much progress has been made in the last five years in relation to a banking union and rules to deal with issues that have cropped up.
with investment now seventy below its pre crisis levels there is an urgent need to invest and particularly to invest in the sustainable sectors of our economy. we support the call for any redesign of capital markets to be orientated towards the needs of small businesses that have been starved of investment rather than serving the interest of financiers.
while strong regulation is essential it must match the size and scope of the investment and should not be allowed to choke off local investment schemes.
in south west england which i represent we are beginning to see the growth of local investment particularly in community renewables projects.
we will not accept any deregulation in the name of market integration particularly if it weakens stability or the protection of people's savings.
we have an opportunity to make some progress.
first of all in terms of building from the bottom up identifying barriers and obstacles and knocking them down and building the capital markets union with people rather than doing things to people that is how i am approaching it.
there is support for this way forward.
i think it is wrong to misrepresent the views of people in the city of london.
if you have a system which we have in europe which is heavily dependent on one source of funding the banking system and you have a contraction in the banking system then you get the consequences we have seen of businesses in the economy not getting the funding they need.
i just want to highlight four or five of the main themes that have come up this afternoon.
it is also important to emphasise that the point of what we are trying to do is to complement the funding streams we already have and to add to the banking system.
the regulation that has been passed is clearly linked with the flow of capital through the union.
and that is why support for the capital markets union is very strong as it happens in the city of london because they see the benefits that come to britain from being part of a large single market.
i welcome the support i have had and i welcome the arguments set out in the resolution.
i do not claim this is the holy grail but i do claim that we have an opportunity now to do what we set out to do over fifty years ago which is to achieve the free movement of capital.
the capital markets union will be one of those failures once again.
this idea of the capital markets union is also one of those technocratic dreams of centralised control;
it is individual countries with decent people within it.
they rejected a disastrous bailout deal created by technocrats in a vacuum detached from the misery of the ordinary greek people.
the euro failed greece because it was a failed plan.
the european technocrats do not and never will understand what the people need or what they want.
it is being created in a vacuum once again.
the euro was the cause of that misery and it too was created by technocrats in a vacuum detached from the real people and in this case the financial markets.
it is extremely important that we get deeper capital markets in europe but i always get a little sceptical when people say that we are to launch a capital markets union. i would like to disclose to this plenary that we already have a capital markets union it is called the european union
i say this because this discussion is very much about the shortcomings of the past where we have not been able to get rid of the hindrances barriers and fragmentation.
we do have well functioning capital markets in the union here and there which are rather deep and which are providing the capital. the problem is not the amount of liquidity but the amount of profitable investments.
i think the answer very much depends on the way we approach the capital markets union.
two key principles have to be at the heart of the capital markets union it has to be safe and it has to serve the real economy.
the commission must show how shifting risks and freeing up capital leads to lending to smes. at the same time high quality securitisation requires an appropriate allocation of property rights and risks and requires powerful monitoring.
as regards serving the real economy the potential of banking beyond banks is largely untapped in the eu so there is a possibility for europe to diversify in financial instruments and i think that is a good thing.
but it cannot be restricted to regulation in the financial sector.
so yes the capital markets union can offer an opportunity for a safer service oriented financial sector.
this resolution offers a welcome starting point and strikes the right balance a balance between the power of diversification and the necessity for proper regulation.
this is the balance we have to protect throughout this project.
any interference from this house making problems for our capital markets is not desirable because it is not capitalist inclined it is socialist inclined and that does not sit well with worldwide financial markets.
the capital markets union commissioner represents one of the lessons that europe has learned from the crisis and by implementing it now it will ensure better financing for our economy and our smes.
i think the commission should indeed focus on ensuring the successful and diversified access of smes to financing in the capital markets union.
every detail from your side regarding this initiative will be very much welcomed.
however national particularities of the business sector and business models of the financial sectors in different european countries must also be considered when providing equal opportunities for financing.
therefore a genuine european approach should take into consideration the interconnected character of the banking and financial sectors in europe and should be a support to the internal market in europe also with the aim of avoiding financial fragmentation especially in times of crisis.
we talk a lot about smes but we also need mid caps we also need ipos i was the president of the ipo task force.
we have seen them moving outside of the market institutions as well due to solvency ii and other regulations. we have to take a really good look at why today they are no longer investing in our markets. one of the issues there and it is one of the things that is lacking in your plan is the fact that you have not talked about for example the possibility of a pan european private pension savings plan.
the gold plating and the differences are really hampering the single market and they should be tackled.
you fail to understand that the london market is an international market.
it is a capital market with investors from all over the globe coming into london investing in companies all over the globe because they understand the risks in those countries;
you mentioned them.
mr president i would just like to say that the most successful capital market in the european union is the city of london and if the european union is going to inflict more regulation and annoyance on that institution many of the world wide companies who invest there will go abroad.
the imposition of these financial rules on the city of london will very soon lead to a brexit and that i believe will be the end of the european union.
that may not upset my party very much but you gentlemen are heading for disaster.
these three elements are crucial to creating a sound framework for more and better jobs in the sector.
in addition the measures also need to be analysed in the context of regulations which liberalise the road transport market regulation nos one thousand.
this concerns all stakeholders including member states shippers drivers freight forwarders and other operators active in transport.
this implies inter alia that the measures should be non discriminatory and that any restriction of such freedom should be justified having regard to the principle of proportionality.
mr president honourable members socially responsible road transport services which are at the same time safe and efficient are the key pillar in the creation of a fairer and deeper internal transport market a market shaped by people for people and that was my promise one which respects workers' rights and contributes to developing society and the economy in the eu.
but also several pieces of legislation notably the posting of workers directive.
it is also of the utmost importance that the current legislation at both eu and national level is fully and equally understood and applied across the eu.
the commission is fully committed to promoting fair social standards and fair working and business conditions.
under no circumstances should this debate be used as an opportunity to call for an eu wide solution or an eu framework on minimum wages.
i sympathise with these concerns but it is crucial that we are very clear as to what we are asking the commission to do and what things the commission has the competence to do.
this is key to the proper functioning of the single market.
the new rules in germany require prenotification and extra record keeping and i think such conditions have brought in additional burdens and administrative requirements which are of grave concern to small businesses.
these are exclusively the preserve of the member state and should be addressed at member state level. the commission as guardian of the treaties must defend freedom to provide services and the free movement of goods.
mr president i am very concerned to see the principle of subsidiarity properly upheld. we must respect the competence of member states and their freedom to set their own minimum wages and address their own social policy issues as they see fit.
mr president my briefing note from my excellent assistant says in capital letters complex issue' and the commissioner when she opened the debate said the legal assessment is complex.
in individual states we have different approaches to wage levels and indeed to taxation and the cost of living can vary.
i do know and i do understand there has been unfair treatment of workers exploitation of workers and that should not happen but we cannot have one country setting itself up as judge and jury in this whole area.
it will discourage them from crossing germany.
by doing so we will take a more comprehensive approach which many of you have called for.
i would like to underline that the establishment of national minimum pay rates is a positive development.
but of course the national measures while protecting workers must respect eu law so as to preserve the proper functioning of the internal market with all the benefits it brings across europe.
the commission will continue to monitor ongoing developments. it reserves the right to intervene against unilateral measures that unduly restrict fundamental freedoms such as the free movement of goods workers and services.
in the pursuit of constant improvement we will also be looking into the most appropriate measures to create efficient safe and socially responsible road transport services with people at the heart of eu transport policy.
finally i would like to stress one more time that the commission will inform parliament of the outcome of its assessment of the compatibility of the german measures with eu law as soon as possible but please understand that we need to follow eu procedures and that takes
my concern is that we should maintain the single market and indeed we still have not completed the single market which is important but it is equally important and possibly more so
that the rights and responsibilities of member states and the subsidiarity principle be recognised by europe.
we listened to the commissioner say we must do the things that we can do better together but not get involved in detail.
my view is that social policy should be the prerogative of the member states.
while integration is of course a member state's competence the european union has an important role to play in providing support to them.
i welcome that your report also stresses the importance of better analysis and enhanced knowledge in the realm of integration.
many of these recommendations have already been taken into account which proves that we share the same concerns and that we are on the right track.
and assuring that better information about qualification recognition practices in different countries is collected through the new europass framework.
mainstreaming the integration of refugees should be an integral part of our efforts for better coordinated and more inclusive social education labour market and health policies in the european union.
in the revision of the directive the commission has also proposed to open it to highly skilled beneficiaries of international protection.
third country qualifications through the division of the european qualifications framework;
the rapporteur was also present there. i think we all share the view that not only do we have a moral duty as a society to welcome these people who are fleeing wars or other situations of extreme pressure in their countries but also from an economic point of view the cost of non integration would be much higher than the investments in integration.
supporting frontline services and identifying and documenting the skills and qualifications of refugees through the launch of the skills profile tool for thirdcountry nationals;
beyond meeting the immediate needs of refugees it is essential to promote their integration in the host society and in the labour market.
this step is important to releasing and employing the potential of third country nationals.
i am pleased to note that many of the points stressed in your report were also reflected in the action plan on integration of third country nationals adopted on seven june as you know.
we exchanged views on the collecting of data on the outcomes of thirdcountry nationals and how to map the implementation of the relevant policies across member states.
furthermore i take note of the fact that your report advocates for introducing a minimum share of twenty five of the cohesion policy budget for the european social fund in the revision of the mff in order to ensure adequate resources for labour market integration.
i welcome that your report highlights the need for better assessment of formal and informal skills and recognition of thirdcountry qualifications.
we also organised peer learning events and activities involving different stakeholders such as the esf managing authorities the public employment schemes network and civil society to see various perspectives.
we promote the exchange of good practices to ensure early integration and facilitate the better use of available european funding.
for this reason over the past months the commission has reached out to its networks of experts and stakeholders eurostat and partner organisations.
as i presented to you on seven june the commission has put forward the new skills agenda for europe and this skills agenda has specific provisions to address this challenge. in particular in the context of the skills agenda we have proposed the following specific elements improving transparency of
two weeks ago we organised a thematic event on measures to support the integration of asylum seekers and refugees in brussels.
promoting the upskilling of low skilled thirdcountry nationals to the proposal for a council recommendation establishing a skills guarantee;
it is clear that the ongoing refugee crisis has put the european union and its member states to a test.
furthermore let me mention the blue card directive which aims to attract highly skilled thirdcountry nationals to the european union to work.
we know that the integration challenge comes at a point when europe is recovering from a prolonged crisis with the impact still being felt on large parts of our societies.
i know that the parliament had been advocating in favour of such a measure.
early integration into vocational training can provide thirdcountry nationals with the basis for successful integration into the labour market and progression towards a high level of qualification.
the european website on integration is already a europewide platform for networking on integration supporting exchanges about policies and practices but to facilitate mutual learning in tackling the challenges of the refugee crisis we have also developed an online database of promising practices especially for the integration of asylum seekers and refugees.
it is about offering meaningful opportunities for all to participate in society and in the economy so it is not about taking from peter to pay paul.
the common european asylum system is absolutely clear on issues around access to the labour market and the rights that go with it. it was a key point when we were renegotiating the qualifications directive two or three years ago and of course the possibilities in that regard in the receptions directive.
we have a wealth of experience in member states dating from the equal programme and indeed beyond that.
one of the conclusions from the equal programme was that integration starts on the day of arrival for asylum seekers and the day before arrival for receiving countries.
it is important as others have said for local and regional government and other institutions to have additional resources additional not replacing existing training for host communities but in order to take account of the special needs of those arriving.
that investment in people is crucial and it certainly repays in many ways.
language acquisition and access to education are crucial and we know this can be a real challenge for teenagers and adults who may have had disrupted or no access to education.
however we should not undo the good work in terms of training opportunities by issuing perpetual short term residence permits which are a problem both for the individual and for employers.
we need to take that into account when looking at the asylum system.
education is the key to both economic and social inclusion of refugees and asylum seekers in particular young people and that is why the committee on culture has put forward the notion of education corridors and why it calls for further supporting the cooperation between eu universities and universities in places of conflict
to ensure that children and young people who have to flee their country can pursue their education which is a human right. it is not only important for welcoming countries who will benefit from the economic contribution of educated newcomers but it is also a moral and human duty for european societies to guarantee that these young people have the opportunity of a brighter future.