Former Prime Minister Alfred Sant said that the globalised economic system in which we live, and the Europe which is being built, need robust financial services to ensure that available resources are being effectively utilised. This truism needs to be repeated. Dr Sant made this intervention when he addressed the Plenary joint debate in Strasbourg on Financial instruments discussing the two Reports on ‘Markets in financial instruments’ and ‘Markets in financial instruments, market abuse and securities settlement’. “Here, we are devising new methods that make financial services more adapted to today’s and tomorrow’s needs. Just as importantly however, we need new measures ensuring that the best practice in financial services is defined by professional behaviour which is committed to the highest ethical and social behaviour. At present we dont have this assurance!” remarked the Maltese MEP.
Dr Sant noted that the texts we are discussing relate to complex regulations developed in the past few years as a response to the demands and needs of financial markets in Europe and elsewhere. They provide us with an opportunity to reflect on the financial services sector to which they relate.
The Maltese MEP said that in recent years, especially since Luxleaks and the Panama papers scandal, financial services have become associated in people’s minds with tax evasion, aggressive tax avoidance, money laundering and corruption. They have been seen as operated by unscrupulous bankers and accountants, whose only commitment is to greed and the promotion of tax havens. “There is some truth in this impression. But it is very far from being the whole truth.”remarked Dr Sant.
You may follow Dr Sant’s intervention on this link
Maltese Version – L-EWROPA TEĦTIEĠ SERVIZZI FINANZJARJI B’SAĦĦITHOM
Bil-mod kif qed tinbena l-Ewropa bħalissa u minħabba s-sistema ekonomika globalizzata li ngħixu fiha, l-Ewropa għandha bżonn servizzi finanzjarji b’saħħithom biex ikun żgurat li r-riżorsi disponibbli jintużaw b’mod effiċjenti. Dan qalu l-Ewroparlamentari Alfred Sant fil-Plenarja ta’ Strasburgu waqt id-dibattitu fuq żewġ rapporti dwar l-istrumenti finanzjarji.
“Hawnhekk qed nippjanaw metodi ġodda kif is-servizzi finanzjarji jsiru aktar adatti għal ħtiġijiet tal-lum u ta’ għada. Neħtieġu wkoll definizzjoni ta’ x’inhu l-aħjar aġir professjonali f’dan il-qasam, fejn l-aħjar metodi fis-servizzi finanzjarji jkollhom l-ogħla aġir etiku u soċjali. Fil-preżent għad ma għandniex din l-assigurazzjoni!”
Dr Sant saħaq li r-rapporti għad-diskussjoni huma mimlija regoli kumplessi li żviluppaw tul l-aħħar snin b’reazzjoni għall-ħtiġijiet tas-swieq finanzjarji fl-Ewropa u mkejjen oħra. Dawn għandhom jipprovdu opportunita` biex nirriflettu dwar is-settur tas-servizzi finanzjarji.
Il-Membru Parlamentari Ewropew Malti qal li fl-aħħar snin, speċjalment wara l-Luxleaks u l-iskandlu tal-Karti tal-Panana, ħafna qed jassoċċjaw is-servizzi finanzjarji mal-evażjoni tat-taxxa, ħasil ta’ flus u korruzzjoni. Qed jidhru mħaddma minn bankiera bla skrupli u nies fil-kontabilita` li huma leali għar-regħba u l-promozzjoni tat-tax havens. “Hemm ftit verita` f’dan kollu. Imma din hija ’l bogħod mill-verita` kollha.” qal Dr Sant.
Segwi l-intervent ta’ Dr Sant fuq din il-link:
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