Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-12-16-Speech-2-525"
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"en.20081216.46.2-525"2
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"Mr President, we cannot repeat it often enough: one European voice is the single most important thing in this time of financial crisis. I argue in favour of full European harmonisation of deposit guarantee schemes. This is also what the European Parliament and Mr Ehler want.
In times of crisis, full harmonisation is extremely urgent for two reasons. First of all, it is, after all, our duty to offer the consumer financial protection. Many European citizens associate the credit crisis with uncertainty and fear for the loss of their assets and possessions. We should counter this feeling.
At national level, various Member States have taken measures to offer the consumer financial protection. This was the case in Ireland, but also in the Netherlands, where the guaranteed amount has been increased temporarily from EUR 40 000 to EUR 100 000. Like Ireland, the Netherlands feels responsible for the protection of private and small companies.
It is, however, necessary to enshrine the measures implemented in relation to deposit guarantee schemes in one European directive. After all, we know only too well what a lack of cooperation and supervision can bring about. We should do this, though, in a uniform manner, and this is why I am in favour of one maximum amount. We will have this in 2010, provided we follow the rapporteur’s proposal. The maximum amount is EUR 100 000.
The present situation, in which Member States, such as Germany and Ireland, offer unlimited cover represents a risk to Europe. Thanks to these unlimited guarantees, funds from the Netherlands and the UK, for example, will be moved to the neighbouring countries, which has an adverse effect on stability.
I am pleased that the Council agrees with me on this. Mr Ehler has made sound proposals, including with regard to small and medium-sized companies. These companies should continue to fall within the scope of the deposit guarantee scheme. To my mind, we, the European Parliament, have thus achieved a good result on behalf of consumers and small and medium-sized enterprises, and I hope that the Commission will back this initiative up."@en1
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