Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-362"
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"en.20081118.30.2-362"2
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"I welcome Council’s remarks and the general approach to the financial services crisis and, indeed, I hope that we will be able to build on the recent G20 results. As you mentioned, we need to build on that movement to create global results for global regulations and particularly financial supervision.
I have to say that financial supervision requires financial support as well. We have seen this. This is taxpayers’ money, of course. But supervision, to be appropriate, needs appropriate solvency, not just for banks but also for insurance companies. I wonder, therefore, if you will also support group supervision and group support as stated in Solvency II, something not mentioned in your list of financial regulations, but which was thought up outside a time of crisis and could help us in crisis. If this is the case, perhaps the presidency could explain why, on 2 December, it intends to delete group support from this proposal, and realise how unhelpful this can be."@en1
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