It runs counter to the principle "All financial actors, all financial products and all financial markets" and creates incentives to move trading from transparent markets towards OTC trading and thus undermine recent regulatory initiatives to improve derivatives markets.

4. Stresses that, given the importance and influence of the agricultural sector in Morocco, particularly in providing employment, the agreement will play a key role in the country's economic development and its political stabilisation, since it offers new opportunities for exports to the EU, which is the major market for Moroccan products; considers that it will also provide opportunities for the EU's agricultural industry, particularly in the area of processed foods; points out that EU exporters will eventually benefit from the removal of Moroccan import tariffs for 70 % of agricultural and fisheries product lines, a measure which wil ...[+++]l save an estimated EUR 100 million per year in customs duties once fully implemented;

D. whereas volatility of agricultural commodity prices has increased in significant part due to increase in financialisation and commodity speculation by ‘purely financial’ institutions; whereas institutional investors increased their investments in commodities markets from 13 billion euro in 2003 to between 170 and 205 billion in 2008; whereas the influx of ‘long’ positions on commodities, including the significant growth of over the counter (OTC) transactions and in particular through Exchange Trade Funds (ETFs), artificially inflates the price of commodities, decouple price dynamics from underlying fundamentals such as historical se ...[+++]ries on stock to consumption ratios and distorts the normal operations of the futures markets,

The criteria for identifying substances that are persistent, bioaccumulative and toxic, as well as substances of other equivalent concern, notably very persistent and very bioaccumulative, as referred to in Directive 2000/60/EC, are established in the Technical Guidance Document for Risk Assessment in support of Commission Directive 93/67/EEC of 20 July 1993 laying down the principles for assessment of risks to man and the environment of substances notified in accordance with Council Directive 67/548/EEC , Directive 98/8/EC of the European Parliament and of the Council of 16 February 1998 concerning the placing of biocidal ...[+++]products on the market and Regulation (EC) No 1907/2006 of the European Parliament and of the Council of 18 December 2006 concerning the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and establishing a European Chemicals Agency .

Competition law principles are therefore used in this Recommendation to set product market boundaries within the electronic communications sector, while the identification or selection of defined markets for ex ante regulation depends on those markets having characteristics which may be such as to justify the imposition of ex ante regulatory obligations.

Member States may not, on grounds relating to the principles of GLP, prohibit, restrict or impede the placing on the market of chemical products if the principles applied are in conformity with this directive.