21
May
2026
Watch
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.