29/08/2007 (Agence Europe) - The Socialist Group would like the European Parliament to take the opportunity of next week's plenary session in Strasbourg to debate the financial crisis which shook the financial markets this August (see EUROPE 9487 and 9483). “The Socialist Group would like a debate to be attended by the European Commission and the European Ministers in order to discuss the subject of systematic (financial) risks. We must examine the need for new rules in order that Europe can protect its citizens better in future”, said Martin Schulz in a press release (our translation). The German President of the Socialist Group takes the view that “the impact on the international markets of the mortgage credit crisis in the United States is a source of deep concerns”, in that “the pensions and investments of many European citizens have been directly affected”, and “the risk of redundancies for employees in the banking sector” is a very real one. Speaking to the press on Wednesday 29 August, Joseph Daul stated that he had “nothing against this debate” and that the EPP-ED group which he chairs would not oppose its being held when issue was raised at the Conference of the Presidents this Thursday. (mb)