Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-15-Speech-2-073"
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"en.20080115.7.2-073"2
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"Mr President, ladies and gentlemen, I personally cannot share the enthusiasm for this text. Important steps have been taken, but this text does not serve the purpose, which is to create a harmonised framework. That harmonised framework has not been achieved on a number of points that we consider essential.
Let me explain. There are two points that, as far as our delegation is concerned, are still difficult or very difficult. The pre-contractual information package is reinforced and harmonised. That is good. But it is undermined by the various formulae that are allowed for the annual percentage rate of charge for opening credit. I just need an explanation of how consumers are going to be able to compare those various formulae objectively.
Secondly, in the case of my country, Belgium, the position of consumers is likely to be weakened, in that the database has to be consulted but there are no related sanctions for the banks. That could plunge people even further into debt. I also think it is a missed opportunity for the banks themselves. It is still a wasted regulation."@en1
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