Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-05-Speech-4-298"
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"en.20080605.30.4-298"2
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The liberalisation of retail financial services in the single market is the most recent proposal from the European Commission following on from the liberalisations set out in the Lisbon Strategy. The aim is to take another step towards achieving full liberalisation of services in the European Union.
As a result, and following on from other initiatives, the liberalisation of various retail financial services is now proposed, in particular banking products, insurance and pensions. The aim is to remove anything which might be regarded as an ‘obstacle’, using the old arguments of lower prices and greater choice for consumers, when experience actually shows precisely the opposite. It is the large companies which gradually increase their profits at the cost of more expensive services for consumers.
Although we are pleased at the adoption of the amendment tabled by our Group, given that a particular duty of care needs to apply to the marketing of savings and old-age pension products as the decisions that consumers take in that regard are normally decisions of great importance to them and generally taken only once in a life, the fact is that most of the report is negative. That is why we voted against it."@en1
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