Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-11-16-Speech-4-213"
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"en.20001116.12.4-213"2
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"Mr President, my colleague, Mr von Wogau, and I would seem to share something more than just the same opinion today. I also have guests there in the public gallery. They are from Finland, and I would like to wish them welcome.
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Commissioner, we surely agree that Europe must never encounter the same sort of profound banking crisis that we had to undergo at the start of the 1990s. We shall, however, see losses in the banking industry in the future too. When a bank suffers losses, its own resources function as a buffer, which helps to cover the losses that ordinary business profits cannot cover sufficiently. For that reason, the proposal now under discussion is of major importance, as we are trying to ensure that European banks are sound and that their clients’ savings are therefore protected. Their shareholder’s equity relies on their ability to take account as best they can of the nature and extent of banking risks. With modern techniques in risk management it is possible to gain much more precise data on risks than previously. So it is natural that the banks should also be given the opportunity to use these resources and create a more risk-sensitive working environment. To increase risk awareness both the banks’ internal and external evaluation methods must be available. In fact, I believe that internal classification will, in future, enjoy a more important status, as often it is within the banks themselves that key personnel from companies to be allowed credit are well known, as are the companies’ operations generally.
There is broad consensus in Parliament on the content of this proposal. Actually, the only significant difference of opinion among the groups concerns the procedure that should be applied to this proposal and other proposals on legislation on financial services in the future. Our rapporteur, Mrs Villiers, who has been responsible for some excellent work, mentioned in her report the possibility of applying a fast track method. I support her fully in this idea, as I think it is important that the financial service sector action plan be got through in accordance with the briefest possible timetable. In practice the only way to do that is to speed up the legislation procedure and agree that more issues should be handled on an emergency procedure basis."@en1
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