kfajdsl/voxpopuli huggingface dataset:
in that way i will also touch on a number of the broader themes of the resolution of the european parliament.
made. just as we effectively have a compact that describes the essence of monetary policy an independent central bank with a single objective of maintaining price stability so a fiscal compact would enshrine the essence of fiscal rules and the government commitments taken
on the precise legal process that brings about a move towards a genuine economic union we should keep our options
yesterday in a globally coordinated action with the federal reserve the bank of japan the bank of england the bank of canada and the swiss national bank we have agreed to lower the price on us dollar provision in other constituencies including the euro area. we have furthermore agreed as a contingency measure
and ten and two thousand and eleven as you know the ecb's monetary policy is constantly guided by the goal of maintaining price stability in the euro area over the medium term.
and nothing that i say should in any way be interpreted in terms of future monetary policy decisions.
during all his tenure he had a very fruitful and very constructive dialogue with the european parliament and i intend to continue on this route with the same force the same strength that he displayed. today's session is an opportunity for us to take a wider perspective on ecb policies.
but a credible signal is needed to give ultimate assurance over the short term. what i believe our economic and monetary union needs is a new fiscal compact a fundamental restatement of the fiscal rules together with the mutual fiscal commitments that euro area governments have
it would also present a clear trajectory for the future evolution of the euro area thus framing expectations.
to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of the currencies should market conditions so warrant. as the ecb's governing council meets on thursday next week we are now in the pre decision period
let me begin with a few words on the main monetary policy decisions we have taken and the challenges we have faced during two thousand.
but as far as the current situation is concerned there is frankly not much more to say beyond what i have said in recent statements.
but of course such interventions can only be limited. governments must individually and collectively restore their credibility vis vis financial markets.
i am confident that the new surveillance framework will restore confidence over time.
term. after all investors are themselves often taking decisions with a long term horizon especially with regard to government bonds.
an impaired transmission mechanism for monetary policy has a damaging effect on the availability and price of credit to firms and households.
the european parliament has contributed decisively to that progress and the ecb commends its work.
so far and ensure that the latter become fully credible individually and collectively.
the ecb has taken several measures in two thousand and ten and two thousand and eleven to ensure that banks continue to have access to funding sources.
fundamental questions are being raised and they call for an answer.
and it is first and foremost important to get a commonly shared fiscal compact right.
looking back at two thousand and ten and two thousand and eleven notable progress has been achieved in reinforcing economic governance though i recognise that this may not be evident in times of crisis.
it is in this context that the ecb decided to reduce its key interest rates by twenty five basis points in early november.
we have set up these new mechanisms but their positive effects on the credibility of government fiscal policies are not yet visible.
term. our answer is that it is definitely the most important element to start restoring credibility.
downside risks to the economic outlook have increased.
in addition liquidity in us dollars has been offered to banks for three month periods.
whatever the approach companies markets and the citizens of europe expect policy makers to act decisively to resolve the crisis.
most importantly the ecb has extended its policy of fully allotting liquidity demanded by banks at fixed rates against collateral.
we are also aware of the problems of maturity mismatches on balance sheets the challenges of raising levels of capital and the cyclical risks related to the downturn.
and when i say this i mean price stability in either direction.
it is simply a calculated act of brinkmanship on the part of all actors involved in the fate of the euro which has brought us to this point.
brinkmanship' is defined as a calculated practice of pushing a situation to the brink of disaster in order to win an advantage from your opponent.
we are in danger of going down in history as a political class who because of being smart with these actions and strategies presided over the collapse of the euro and global depression.
in whatever shape or form they include instruments which combine an element of joint liability among all euro zone member states and a watertight solution to the moral hazard issue.
so let us act collectively on these core principles for the rest is detail.
above all else the independence of the ecb needs to be upheld particularly in times of crisis.
if euro zone members want the ecb to act as the lender of last resort they should legitimise this role as soon as possible.
the ecb should not be a political football for point scoring between national politicians.
perhaps as well as looking at the measures other institutions should or should not be taking member states themselves should be looking to get their own houses in order.
we passed the six pack on economic governance two plenary sessions ago.
member states should be looking to implement it as soon as they can introducing credible and robust measures suited to their own countries to bring their budget deficits back down to acceptable levels.
taking my own advice let me be calm.
i could not agree with you more but it therefore requires that if we caused the problem we have the capacity collectively to resolve it. shouting really does not work;
there are really serious questions facing us at this perilous crossroads in european history.
the issue of eurobonds and the need for a lender of last resort is high on the agenda whether that lender is the european central bank or the efsf or some other mechanism.
the hour has arrived and we cannot dither any longer. this is the difficulty that we face and if we do require treaty change then let us go ahead on some pro forma basis on the presumption that that treaty change will be approved by member states retrospectively.
if it works they will pass it but passing treaty changes takes time. in some countries we may even need a referendum.
i believe we do not have that time.
it may be said that there is a strict legal requirement but this is like saying that we cannot turn the titanic right or left because the traffic light does not permit it.
the european project and the euro in particular cannot be allowed to go the same route as the titanic.
in natural justice which in my belief precedes written law our leaders must act now.
this is not a job for politicians.
it is a job for statesmen and stateswomen.
i hope that we will rise to the occasion. i think we should all be asked to read and re read the speech that the polish foreign minister made in germany very recently.
mr president may i declare something. i am an economist an agricultural one that is. i take mr mitchell's question very seriously and this is why i would ask that everybody who chooses to be involved in this debate considers the consequences of their comments.
it is ok in the public house to pontificate and swallow your last drink and go home.
such deterioration contrasts very starkly with the significant improvements in the chinese people's standard of living.
we have followed all these cases very closely and we have voiced our concerns both with public statements and in our direct contacts with the chinese authorities.
the chinese authorities have committed to promoting law based governance and to the creation of a modern and prosperous society but these goals are impossible to achieve when the full range of human rights is not guaranteed.
there can be no sustainable development without a fair justice system and without freedom of expression for all.
the main prosecution evidence against him appears to be a video published by the new york times where he did no more than advocate the rights of tibetans to study in their mother tongue.
when accounts came to light that xie yang and wu gan had been tortured we immediately called upon the chinese authorities to investigate promptly and to punish those responsible.
this right should be guaranteed under china's constitution and not punished.
we have witnessed improvements in the sphere of some civil rights and we have welcomed the commitment by the chinese authorities to ensure legal representation for greater numbers of criminal defendants.
the chinese authorities must immediately stop harassing minorities in the country which for years have been under pressure.
just recently it agreed on an eu china tourism year. in the face of such grave human rights abuses it is vital for us to keep a firm principled and united response especially in the light of china's assertive foreign policy that aims to silence criticism through informal investment agreements on the one hand and bullying and intimidation on the other.
madam president economic interests have become increasingly important in eu china relations sadly overshadowing the eu's commitment to promoting human rights across the globe.
in this context the urgency resolution we are debating today comes as a timely reminder that we can and must reverse this trend.
this resolution underlines the need to shift our focus and finally engage in a meaningful discussion on the importance of fundamental freedoms in our bilateral relations.
this is necessary if we wish to establish a sustainable partnership with china our second biggest trading partner.
two tibetans are named in the resolution tashi wangchuk a language rights activist and the buddhist monk choekyi have been imprisoned and subjected to inhumane treatment merely for defending tibetan culture.
such treatment is clearly in violation of the constitution of the republic of china which guarantees freedom of religion and upholds the rights of minority nationalities.
the cases presented in this resolution have raised fears that chinese criminal law might be abused to persecute minorities and we should not remain silent on such developments.
rather the eu must urge beijing to end the repression of tibetan culture through religious persecution antibuddhist campaigns and the so called patriotic education approach.
in addition it should call on the chinese government to resume the dialogue on tibet's status with the tibetan administration and finally reach a solution that grants it genuine autonomy within the framework of the chinese constitution.
that covers a range of different measures preventing the misuse of the financial system for money laundering and terrorist financing;
and supporting third countries as they engage with international partners not only through the fatf as i mentioned but also other bodies such as the anti isis coalition working group on countering financing of terrorism and indeed the work that is done in the framework of the g.
this can in turn foster organised crime terrorist financing money laundering and tax evasion.
we appreciate the emphasis on hawala.
increasing cooperation and the exchange of information between competent authorities in particular financial intelligence units;
we appreciate your support for our proposed regulation on the import of cultural goods.
we will also propose measures to improve the cooperation between law enforcement authorities and the various financial intelligence units. in line with the report's recommendations we have reinforced europol's role in this fight against terrorist financing.
from the commission side it is a key part of our work to build an effective security union.
we welcome the emphasis in the report on information sharing in particular among financial intelligence units as well as other national agencies. we welcome your support for the establishment of central bank account registries.
on asset freezing we appreciate the report's support for existing measures.
we will take a careful look at them and we will come back to you on them.
the fifth anti money laundering directive is a step forward i think in reinforcing the transparency around this means of payment.
recent attacks perpetrated in europe have been financed with relatively small sums of money and that poses some new challenges to those who are working on the front line to prevent terrorist attacks.
this will help national administrations to detect the presence of illicit money and money laundering.
supporting third countries in countering terrorist financing and money laundering in their implementation of the financial action task force standards;
so in a nutshell i am glad that the work the commission is doing in this area is in line with many of the measures you call for and support in today's report.
in the supranational risk assessment of money laundering and terrorism financing risks the commission recommended that hawala service providers should apply the requirements related to money transfer systems under the payment services directive and the anti money laundering directive and we are committed to keeping this particular sector under close review.
as the terrorists and their supporters constantly modify and change the ways they collect move and get access to funds we need to be ready to adopt and adapt our response.
some other new measures you suggest merit further analysis.
in relation to high value goods i would like to underline that the proposal to amend the cash control regulation expands the definition of cash to gold and other high value commodities.
the eu needs to adapt its instruments and measures to deprive terrorists of the space and the means they use as they seek to do us harm.
we need to give law enforcement and our public authorities the tools they need to do their job and to help keep us safe.
countering financing of terrorism is a core component of the eu strategy in the fight against terrorism and hence in our work to build an effective security union.
we take note of the call for increasing monitoring of prepaid cards.
countering terrorist financing is not only about limiting their capacity to act but also about as we have just heard using financial intelligence to detect and stop terrorists before they act.
with its list of non cooperative jurisdictions the eu is also acting to increase the exchange of information on tax matters with third countries as you have been discussing.
this will include measures to facilitate access to national centralised bank account registries and retrieval systems within member states.
tackling terrorist financing is a high priority for all of us.
i am glad to say as announced in the commission work programme for this year we will soon present initiatives to improve cross border access to financial data for law enforcement authorities.
we appreciate your support for the eu us terrorist finance tracking programme and we take note of your call for a european system to complement that.
our approach was set out in the action plan for strengthening the fight against terrorist financing of february two thousand and sixteen and we are now taking that work forward on two fronts detecting and preventing terrorist funding and disrupting the sources of revenue.
member states should also soon adopt the commission's proposals to strengthen the vat system and reinforce the collective fight against vat fraud which again can feed criminal and terrorist organisations.
the eu's asset freezing efforts have been reinforced with the autonomous eu regime against al qaeda and daesh.
this issue remains of high importance in addressing the problem of cultural goods being illegally taken from third countries from their proper historical and archeological context and being brought to the eu.
i believe that law enforcement and prevention strategy are important both among eu member states and in the european union's external relations.
this situation cannot continue commissioner.
it's clear that terrorism and its financing know no borders and this can only be tackled at the multilateral level.
as the uk leaves the eu external and internal security will be one of the key areas where it is vital no matter what else transpires for britain to stay plugged in.
so i welcome the prime minister ms may's positive comments in this regard during her munich security conference speech and i hope that accommodation can be found to avoid a security cliff edge if no deal were to transpire during phase two of the negotiations.
i too welcome many of the recommendations in the nart report and strongly support the overall endorsement of greater cooperation amongst the eu member states in this area.
but jihadi extremist terrorism remains active in a number of countries and the terrorist threat including to us here in europe remains very high.
they are still able to produce and spread poisonous propaganda.
they still have access to significant sources of funding and funds that they have previously raised.
that is why the work that you've been highlighting in this report to disrupt the sources of revenue of terrorist organisations to limit their capacity to move and use funds and to support law enforcement in their efforts to detect financial movements of terrorists in order to identify them and frustrate their plans and tackle the networks is so important.
i agree with those who've underlined the importance of making progress on information exchange and information sharing.
we have made some progress there is still more that needs to be done.
in particular we're going to come forward with further proposals to strengthen the network of financial intelligence units and the ability of law enforcement to work with those units and i hope you will support that.
i agree with those who've spoken about the transnational character of the terrorist threat and that is why we need a common european approach.
that approach needs to be rooted in and complementary with actions taken at national level and international cooperation.
that's our objective.
that's the work that we're pursuing with your help and support to continue to build an effective security union to better protect our citizens.
one lesson is that the combination of military means and cutting off the financial lifeblood of isis has paved the way for its departure.
another lesson is that after the dismantling of an organisation like isis there will be a vacuum. certain actors will do their utmost to fill that space with new jihadist organisations and for that they will need money.
cutting the funding sources of terrorist networks should therefore be considered a key priority.
it constitutes an effective tool hampering the effectiveness of these networks.
with common efforts the eu is able to cope with the bloodstream of jihadism the capital flow that today finances international terrorism.
i believe this has led to a good report with realistic recommendations. the changes we suggested in this report can be embraced by law enforcement bodies across europe for example by creating a platform where data can be shared.
the small amounts of money that are needed for terrorists to carry out their criminal acts in our cities mean that we need to be better at monitoring even small transactions including traditional forms of exchange such as hawala.
we also need to recognise that daesh move money into legitimate businesses but in countries with weak institutions which is why we need to support institution building in fragile states.
this report also stresses that while we must deal with terrorist financing it is ultimately through tackling the root causes of poverty social exclusion and human rights abuses that we will defeat the destructive ideology that breeds terrorism.
i have mentioned just a few of the examples of the practical solutions that are outlined in this report.
our citizens rightly expect us to keep them safe and that is why i believe this report is important.
it is a demonstration of the practical ways that the eu works for the people across europe.
but we cannot as the commissioner is trying to do apply these rules retroactively.
that is a problem with this.
this action has done much to increase the eu's standing with european citizens not just warm words or vague ambitions but concrete action that will positively affect people's livelihoods.
if we are to reverse the damaging cuts to public services and to invest in such vital issues as mitigating climate change then we need to keep up the pressure for tax justice.
but we also need to be clear about who the recovered tax belongs to because this is not just about ireland and apple.
when any country arranges a sweetheart deal for a company we all lose out.
across our continent we see the revival of nationalism as people feel out of control in a globalising world yet it is not other countries that threaten our ability to act but the global corporations that grow ever more powerful. i welcome the decision of the commission to work for europe's citizens and to contain the power of corporations and ensure that they pay the taxes they owe.
in my region in the west midlands one of the big issues raised with me by smes is that this type of sweetheart deal is massively unfair and one they felt that the eu should have tackled long ago.
madam president tax fairness is about everybody paying their fair share and i applaud you commissioner for your work and for having the political steel to reach this decision a big step in tackling corporate tax evasion.
i believe this is totally the wrong approach.
let us not forget that apple benefits from infrastructure in ireland paid for by the irish taxpayer and its staff use this infrastructure on a daily basis but the irish taxpayer does not get anything in return.
will there now be a focus on the prices of apple products and the company's strategies to erode interoperability such as removal of headphones?
we cannot have one rule for big multinationals and another one for smes who are the main creators of jobs across the european union.
two thousand and fourteen i believe this decision is a clear message to multinationals which are cherry picking in terms of tax avoidance.
as one of the largest companies in the world apple is promoting corporate social responsibility and i welcome this;
now apple's ceo has threatened that this decision will impact on jobs and investment.
we concluded that they gave apple a selective advantage over other companies artificially reducing apple's tax burden over two decades.
the decision now orders the recovery of apple's unpaid taxes back to.
the published information may also be relevant to tax authorities in other jurisdictions.
in fact the effective tax rate for apple sales international was as little as.
but we should go even further.
the ruling endorsed an internal allocation of profits within apple sales international between its head office and branch.
g. twenty in the eu under the responsibility of my colleagues valdis dombrovskis and pierre moscovici we are pursuing a strategy towards fair taxation and greater transparency.
this is not an issue for the eu state aid rules but as soon as the decision is published tax authorities will be able to read across the information provided by apple in ireland and in their jurisdiction and of course assess whether this updated information
under the irish tax law applicable at the time the head office was not subject to tax in ireland or anywhere else.
it is important that basic tax information on multinational companies becomes public.
a single market of more than five hundred million potential customers that alone is a very good reason for companies to invest and it is a top priority for the juncker commission to make europe even more attractive for investment for the benefit of all european citizens.
we estimate that it could be as much as eur thirteen billion plus interest.