Amending Regulation (EU) 2017/2402 on securitisation and a specific framework for simple, transparent and standardised securitisation (A10-0138/2026 - Ralf Seekatz) (vote)
Mr President, dear colleagues, 20 years ago, the economy was hot. Bankers made amazing profits by creating securities obscuring the real values of holdings. Then the inevitable happened. Somebody always has to pay the bill. Millions lost their homes. Millions lost their jobs. Although the problem came from the United States, we Europeans paid a heavy price, and we are still paying the price after decades. For example, Spain's public debt rose from 35 % to over 100 %! We should learn from our mistakes. There is no reason to believe that this time it would be different. There is no reason to believe that profits made through speculation would transfer to investments in the real economy. I appeal to everyone: let's not repeat the old mistakes.
Financing EU priorities in a sustainable, predictable and resilient way through a new EU own resource from the online gambling and betting services sector (debate)
Mr President, every way of financing the EU is wrong for some Member States and for right-wing populists, every way of financing the EU is wrong. Of course, the right of Member States to tax should not be compromised by transferring general taxing rights to the EU, but in the face of, for example, US digital giants, climate change and Chinese coal-fired production, individual states are helpless. It is natural that the taxation of emissions from digital services, imported goods and own production should be carried out at EU level. Similarly, taxing stock exchange trading and private flights would be very appropriate at EU level. As far as gambling and betting are concerned, the situation is not quite as clear, as many Member States are already collecting significant revenues through licence fees and taxes. But it would make sense to tax gambling at EU level because companies are concentrated in low-regulation countries and operate across borders. The transfer would also encourage Member States to address harmful gambling more.
High time to deliver on the Single Market, providing certainty and predictability for EU businesses and quality jobs (continuation of debate)
Mr President, it is, of course, worth removing the unnecessary obstacles to the internal market, but the leading right-wing line, the focus on deregulation, has been at best an exercise. At worst, the only thing that makes Europe attractive will now be destroyed. The well-being of people and the quality of life, that should be our main goal and everything else subordinate to it. Europe's competitiveness is measured in relation to the rest of the world. China is an internally ruthless market economy where workers or minorities have no rights. State control is everywhere. Externally, China operates systematically and takes over one industrial sector at a time. It has already trapped us in land minerals and industrial value chains. The United States is also increasingly advocating for its own interests, or at least the interests of the billionaires who run the country. American democracy was never praiseworthy, but now the rules and democracy have been completely put out of storage. Presidential financiers are building digital monopolies with tentacles that extend everywhere. Ladies and gentlemen, the single market cannot be built out of global reality.
Energy security, independence and supply in the geopolitical context - ensuring market stability and affordable energy for industry and citizens (debate)
Mr President, Donald Trump is an exceptionally ruthless and simple‑minded leader, but this is not the first time the EU pays the price for US wars. We may not be able to stop Trump or Putin from killing innocents, but we must break free from our dependence on their fossil fuels and their wars. It is not only electricity and fuel costs that are rising. Food prices and inflation in general are affecting ordinary people. Fortunately, a green transition has already started in Europe. Thanks to clean energy, in my home country Finland, the price of electricity is now the lowest in Europe. Another excellent example is Spain – they have built a future with solar and wind power. Now, Spain is safer, more affordable and more independent. Unfortunately, many other leaders in Europe are unable to lead the change. They want to look to the past and not to the future. We need immediate action. We need to consistently oppose the illegal actions of Trump, Netanyahu and Putin. We need to accelerate the green transition, to accelerate our freedom.
EUCO and situation in the Middle East (joint debate)
Mr President, Trump's war increases the cost of transportation and heating homes, at a time when many Europeans are already suffering the consequences of Putin's war. Those who oppose the green transition are impoverishing Europe. Putin is grateful when oil money flows into his war chest. The most horrific situation is, of course, for the Iranians, whom we must find more ways to help. They are being killed from within by their own criminal leaders, and from without by criminal states. The fascist regime in Iran must be treated as criminals, just as we have already decided with the IRGC. Bombing schools and hospitals, however, will not help Iranians. The goal of Israel and US is not to free Iran. We have seen elsewhere how these two kill innocents without any restraints. I am ashamed of European leaders who do not renounce violations of international law. It is time to defend justice and humanity.
Mr President, Mr Vice-President of the Commission, the objectives of the proposal are good. Europe needs a faster transition towards more efficient and reliable connectivity. Digital connectivity is a good example of how markets can only function when they are regulated for the common good. The so-called "free market" leads to a monopoly where quality is poor and price is expensive. The worst of Draghi's and Letta's reports have to do with this. If larger companies brought better results, the situation in the United States and Germany would be better. On the other hand, both connections are miserable. Even a dense population base does not support benefits if the policy has been bad, for example at our workplace in Brussels, where we pay high prices for badly functioning accessions. Europe also needs to get a grip on satellites, and this is what the proposal will give us. Satellites are increasingly important for both civilians and defence. Horrible is the dystopia in which a few American digital oligarchs dominate not only our software, but also our connections. With the US attacking us now in almost all sectors, it would be irresponsible to act like Italian Prime Minister Meloni. Instead of European options, he pledged to pour billions into Elon Musk's space company. Unregulated markets are a problem not only for competition and consumers, but also for our security. While China has driven European network manufacturers out of China for security reasons, more and more Chinese network equipment has been purchased in Europe. This is insanity. Europe has been at the forefront of online technology, and when we stand up for the competitiveness, employment and future of our own businesses, we also stand up for our own security and resilience. I would like to thank the Commissioner for being more balanced than in the past and not on the terms of the big operators. It is good that consolidation towards a monopoly is not being forced now, and I look forward to Commissioner Ribera's presentation. I believe that the Commission is looking at the whole.
Brutal repression against protesters in Iran (debate)
Mr President, Iranians have waited for freedom for way too long. Dissatisfaction is not limited to poverty and bazaars; in the streets, women and the younger generation demand a dignified life. The more the leaders fear their own people, the more horrible their actions become. We can no longer wait and watch all this from the sidelines. The brave people in the streets – they deserve our full support. All my life, Iranians have been under a religious, conservative tyranny. Democracy was stolen from them even earlier, in the coup supported by the US and Britain over 70 years ago. But it is not about us – not Israel, Russia or the United States. We must support the Iranian people without economic or geopolitical goals, but because the Iranian people deserve freedom. Sanctions for leaders are needed, and the Revolutionary Guard must be declared a terrorist organisation.
Territorial integrity and sovereignty of Greenland and the Kingdom of Denmark: the need for a united EU response to US blackmail attempts (debate)
Mr President, we must wake up from the fairy tale that the US is our closest ally. The US administration is demonstrating through words and actions that the EU is its enemy. The US is trying to destroy the EU from within with the help of the far right. But territorial sovereignty must be a limit that cannot be crossed. We are responsible adults, and the EU has capitulated time and time again. But the more blindly we obey Trump, the more gifts we give him, the more he demands. It is a greater risk to give in than to fight against: let's launch ACI, let's tax digital giants, let's stop supporting the US arms industry and let's support international justice and human rights. We must not use double standards anymore, we must support human rights and sovereignty in Ukraine, in Palestine, in Venezuela, everywhere.
Incentivising defence-related investments in the EU budget to implement the ReArm Europe Plan (debate)
Madam President, EU countries spend almost EUR 400 billion on defence and the plan is to double it. But the astronomical amount of money is flowing away: the majority goes to the US arms industry, a large part goes to Israel. It is extremely important for our employment, our economy and our security to move the defence industry to Europe. It is great that the majority in this Chamber are aware of the Russian threat. I am grateful that Ukraine is now being increasingly integrated into European defence production. It is also important to defend us against hybrid attacks, especially in the eastern parts of the EU. But unfortunately, the majority still seems to be sleeping soundly in the face of the threat from the United States. The US is attacking our democracy and our economy with increasing severity. This report does not specifically address this issue, but in the future we must direct 100 % of our common defence spending to the European production. I would like to thank all groups and rapporteurs for the constructive negotiations. The result has many improvements, but also weaknesses. For me, most important, HorizonEU should have been left outside the defence industry.
EU position on the proposed plan and EU engagement towards a just and lasting peace for Ukraine (debate)
Madam President, colleagues, if it looks like a Russian asset, talks like a Russian asset and acts like a Russian asset, then it probably is a Russian asset. We can only guess why, but Donald Trump has always done what Vladimir Putin wanted. Of course, Putin is not the only one. Trump has shown his admiration for other authoritarian leaders who have blood on their hands. He does not bring peace – only new tensions. And he rewards killing. We Finns, we tried until the very end to build friendship and stability with Putin's Russia. But imperialist delusions – they cannot be answered by reason. Capitulation to Putin and Trump would bring new occupations and new wars. Dear colleagues, Europe must do everything to support Ukraine and cut off the US leash.
Increasing the efficiency of the EU guarantee under the InvestEU Regulation and simplifying reporting requirements (debate)
Madam President, colleagues, we all agree that we desperately need investments. Without investment to the green and digital transition, we will suffer more and more from unemployment, from rising housing costs, from climate change, from Russian aggression, from Chinese and US domination. The need for InvestEU is therefore huge. The content is good in many respects. It would be wrong to pour money into companies without caring whether the subsidies will create the needed changes. So for us, it was important to include for evaluation the number of jobs created and volume of investments contributing to climate objectives. That said, it is also easy to be critical towards InvestEU. Its logic still makes profits private and losses public. The simplification measures reduce democratic scrutiny over the use of public guarantees. The threshold for exempting operations from reporting requirements was increased from EUR 100 000 to EUR 300 000. That is a clear step backwards in terms of transparency. A wider InvestEU is not a silver bullet for the EU's investment crisis, but hopefully it is an important step forward.
Effective use of the EU trade and industrial policy to tackle China’s export restrictions (debate)
Mr President, Commissioner, China has skillfully trapped us all. China controls 70% of rare earth mining and 90% of the extraction and processing of rare earths. 90% of it! Without these metals, no smartphones, modern cars, no energy, no weapons, no health technology, not much at all. Europe did not secure its back. It was believed that the free market would solve the problems. But we are not weak either if we want to take advantage of our trump card. Access to Europe's gigantic market is desirable and valuable. Without our market, even these minerals have little value. The more Xi and Trump dictate conditions to us, the more they tighten with earth metals or weapons or fuels, the more determinedly we need to break away from dependencies and invest in the green transition. We need a circular economy to replace rare metals, our own energy production to replace fossil fuels. Of course, the EU cannot be self-sufficient in everything. We must be open to the whole world, our destinies are globally intertwined. But strategic dependencies, they need to be broken! Autocratic leaders in the East and West are taking advantage of us. The Commission's and Member States' vision of competitiveness has remained in the 1990s. We can't afford that anymore. We need the investments demanded in the Draghi report, not the stinging of omnibuses...
Conclusions of the European Council meeting of 23 October 2025 (debate)
Madam President, we must distinguish knowledge from wishful thinking. Climate change is the greatest threat also to our economy. Southern Europe is drying up to the point of being almost unliveable. It's not looking good anywhere else either. Both financially and morally, it is better to act now than wait to repair the full destruction. Fortunately, the solutions to both the climate crisis and competitiveness come together. The sooner we move to a fossil-free economy, the sooner we also stop pouring money into foreign fossil fuels. No gas and oil from Russia, the United States or the Middle East. We must not let China take over the sustainable production market. The necessary steps for change won't happen with us just waiting. The market won't save us. Returning to the previous millennium won't save us. It's time we take leadership to save ourselves. It is only possible if the moderate right stops cooperating with the far right.
Ending all energy imports from Russia to the EU and closing loopholes through third countries (debate)
Mr President, Russia's war on Ukraine has been going on for 11 years, and this full-force attack for almost 4 years. This is the largest and deadliest war in Europe since World War II. Every single day, every single night, Ukrainians live in fear of missiles and drone attacks. After all these years, we still finance this killing by buying Russian gas and oil. There have been good developments, as crude oil purchases have declined, but the EU remains the largest buyer of Russian gas. Member States bought EUR 22 billion of Russian oil and gas in the third year of the full-scale war, an amount greater than the EUR 19 billion the EU allocated to Ukraine in financial aid in 2024. Enough is enough. It is time to make a full stop in buying Russian fuels, and it's time to stop Russian imperialism.
The decision to impose a fine on Google: defending press and media freedom in the EU (debate)
Mr President, Commissioner, if you give in to the blackmailer, he will come back and demand more, and Donald Trump will count on that when he threatens us. If we do not protect our democracy, more and more power will flow to a few American companies. More than 100 years ago, people and small businesses began to be protected by dismantling monopolies. It was about oil, transportation and industry. But Google is much deeper at the heart of our society. It controls what we see, what we hear, and what we know, or at least what we think we know. In addition to breaking the laws, digital giants don't even pay taxes on the profits made here. It's time to stop bending over Trump. If our democracy does not delimit and regulate the market, it will develop into capitalism, in which not only money but also power are held by a few people. The market economy is often a good business, but it is always a bad host. The least we can do is to ensure compliance with existing competition laws.
The role of simple tax rules and tax fragmentation in European competitiveness (debate)
Mr President, in Europe, we have one market but 27 different tax systems. This creates problems, especially for smaller companies, but also for the financing of the welfare state. Large companies, multinationals, can even benefit from fragmentation. But the EU's competitiveness is not improved by confusing bureaucracy. I also would like to thank the rapporteur for his very good work, which was rewarding to participate in. The whole takes into account all the different interests as we have heard today. Simplification and coordination between Member States in tackling tax evasion, fraud and avoidance is important to facilitate cross-border economic activity. Of course, it must also be said that from the left's perspective, much more ambition still needs to be found in the taxation of the large US digital companies in particular.
This is Europe - Debate with the Prime Minister of Luxembourg, Luc Frieden (debate)
Thank you, Mr President, Prime Minister, what is the cost of increased defence spending? What will be used to finance the care of Europe's ageing population? Why did public debt increase even in good times, and now it is holding back the absolutely necessary investment, which is why we cannot cope with China and the United States? The indebtedness triggered by the euro crisis was invented by countries spiralling in bank bailouts, but the real culprits for indebtedness have been countries such as Luxembourg, Ireland and the Netherlands, which have allowed large transnational corporations to default on their taxes. That money is out of the service and well-being of all of us. Unfair competition has also driven honest European small and medium-sized enterprises out of the market. The European Union's common market will not last as long as some of its members cripple everyone else. It is particularly grotesque for a country that is already one of the biggest beneficiaries of the EU and one of the locations of our key institutions. Dear Prime Minister, The OECD has also forced EU countries to adopt a fiscal stance. But it's not even close to the goal yet. Looking at the lists of countries that still allow tax evasion for large corporations and the richest people, the Netherlands, Luxembourg and Ireland are still at the top of the list of tax havens. I hope you will set an example in the future. Build a sustainable future for Europe and our children.
Taxation of large digital platforms in the light of international developments (debate)
Mr President, our tax system does not reflect the reality of the 21st century. It is built on a physical presence that plays an increasingly diminishing role in the economy. The largest and richest companies often pay no taxes at all in the countries where they make their profits. As a result, there is not enough money for schools or hospitals, governments are indebted, inequalities are growing, and giant companies that compete unfairly win on the market. That is why, seven years ago, the European Commission started building a tax on digital giants, but this digital tax was frozen when it started building an even better OECD agreement on fair taxation for all large companies. Then came Trump. His first job was to throw the new tax treaties in the trash. Trump's billionaire friends are now laughing with satisfaction – and now we had to go back to the original plan, which we can decide for ourselves, but the right-wing Commission humbly obeys Trump's orders. At a time when digital taxes should be even higher than planned to counterbalance the tariffs Trump imposed on us, it is high time to put the Musks, the Zuckerbergs and their friends on an equal footing with European companies.
Implementation of EU-US trade deal and the prospect of wider EU trade agreements (debate)
Mr President, the European Treaty of Surrender. That's what the Trump-Von der Leyen agreement is about. The United States has no moral right to demand EU support for their industries, and the Commission had no legal right to promise that. Trump argues that the U.S. buys more goods in Europe than it sells, but the opposite is true for services. Yet Trump banned the EU from taxing the profits collected here by U.S. digital giants, and the right obeys humbly. Trump is the worst bully in the schoolyard, bullying others one by one. Orban, Meloni and the rest of the right, who are fighting their ridiculous cultural war, clap next door, even though Trump is taking their pocket money. We shouldn't agree to this. You should never agree to blackmail. The more money and support we promise to pour into the United States, the more we will always be required to do more.
Implementation of EU-US trade deal and the prospect of wider EU trade agreements (debate)
Thank you for your speech. You are the second one to say that it's not perfect. So I would like to ask: what are the good things in this Trump–von der Leyen deal?
Investments and reforms for European competitiveness and the creation of a Capital Markets Union (debate)
Madam President, the capital markets union – channel savings into investments – plays an important role in the Draghi report. Indeed, Europe needs investment to revive its economy, accelerate the green transition and reduce dangerous dependencies. The capital market union plan, however, includes elements that are insufficient at best and potentially dangerous at worst. Analysis suggests that financial markets could, in the very best case, cover only a third of the EU's essential investment needs. Moreover, the plan aims to revive some of the very same instruments that were at the heart of the great financial crisis of 2007-2008. The capital markets union is a poor substitute for a proper fiscal policy and stronger public investment. Instead of offering endless incentives to asset managers, the EU must rethink its fiscal rules and build a true fiscal firepower to address the investment crisis.
Preparation for the 2025 EU–China Summit - Tackling China's critical raw materials export restrictions
Madam President, China has shown with raw materials that we are dangerously dependent on it. But China is also dependent on us. When Trump's United States openly attacks both the EU and China, it would be tempting to leave the United States to fight with itself. However, China shows every day that it cannot be trusted, by supporting Putin's Russia to kill the people of its neighbouring countries. Nor must we turn a blind eye to China's shocking human rights violations, for example in Xinjiang. Since our destinies are intertwined in many ways, China cannot and should not be isolated. However, all strategic dependencies must be broken and the support for killing must end. The EU must also look in the mirror. To be credible in the world stage, Europe itself must also stop supporting the genocide in Palestine. Now we are considered hypocrites, and for a good reason.