mr president i address my remarks to the president-in-office of the council
president-in-office you brought us warm and encouraging words from last week's council
you said that council and parliament must work hand in hand but our job is to read the small print
why do the council conclusions refer only to cooperation between council and commission
why in all the paragraphs on climate change is there no mention whatsoever of the european parliament
in paragraph sixteen of this document you should have invited the european parliament not just the commission to work with you and recognise that council and parliament will decide not the council alone
moreover president-in-office you will find you need the european parliament because some member states are trying to unpick properly reached agreements
europe must stick to its negotiated targets
it is dishonest of some governments to say that the new economic climate makes those agreements unachievable
new emissions targets for the car industry will not be in force until twenty twelve the emission-sharing proposals apply only after twenty thirteen long after the global economy is forecast to pick up
postponing action now will invite climate catastrophe and an even bigger bill
we need more than the council agreed last week
president-in-office you rightly recognise the power of the markets
since the berlin wall fell fifty million europeans have been lifted out of poverty because the free movement of goods services and people is the key to europe's prosperity
more than that it is vital to our liberty
today we are seeing what happens when markets lack accountability
in recent weeks the global finance system has stared into an abyss and we need concerted action to pull it back
so my group welcomes the council's consolidation of the measures agreed by the euro area
they have alleviated the pressure on the interbank markets
now we need to steer interest rates downwards to alleviate recession
we also welcome the commission's capital requirements directive the new accounting standards and the plans to control credit rating agencies
europe must also play a leading role in negotiating a global system of financial governance
while rules are necessary so are the means to enforce them
the summit failed to agree an effective regime to supervise the financial system in europe
i have made the case for a european financial services authority and it is rumoured that the president-in-office also favours rigorous supervision at european level
by all means try with the americans to get a global agreement but proceed without them if they will not play ball
supervision of the financial services industry remains the missing piece of the jigsaw
president-in-office you are a man of action
your actions underline the case for a full-time president of the council
you draw attention to our successes
in august europe kept the tanks out of tbilisi
this month europe has kept the banks in business
if in december europe acts to preserve the planet then we should convince even the most sceptical that we need the lisbon treaty
