Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-12-16-Speech-2-540"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-12-16"^^xsd:date2
dcterms:Is Part Of	lp_eu:Deposit-guarantee schemes as regards the coverage level and the payout delay (debate)2
dcterms:Language	"et"^^xsd:language2
lpv:document identification number	"en.20081216.46.2-540"2
lpv:speaker	lp:Siiri Oviir2
lpv:spokenAs	unknown; Eesti Keskerakond (2004-07-20--2009-07-13)3 member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2004-09-15--2009-07-13)3 substitute; Delegation for relations with Japan (2007-03-14--2009-07-13)3 member; EMPL (2007-01-31--2009-07-13)3 member_of_the_bureau; ALDE (2004-07-20--2009-07-13)3 member; FEMM (2007-01-31--2009-07-13)3 substitute; LIBE (2007-01-31--2009-07-13)3
lpv:translated text	"Since 1994, EU regulations have ensured that there is a deposit guarantee scheme in all Member States in the event of any bank going bankrupt, and the minimum amount of guaranteed savings is also fixed, at EUR 20 000. Unfortunately, even today the average volume of savings per EU resident is EUR 30 000, which shows that there is a general need to increase the minimum guaranteed savings amount. The European Council decision of 7 October 2008 in which Member States decided, as a result of the global financial crisis, to provide emergency assistance to guarantee private individuals’ savings in the amount of at least EUR 50 000 for one year is a very welcome development. The present initiative by the European Commission will also help bring this into EU law, which will help sustain EU depositors’ confidence in European financial markets. In 2009, as a result of the Commission’s recommendations, it is planned for the minimum amount of guaranteed savings to be raised to as much as EUR 100 000, which is a very welcome development for depositors! Nevertheless, the Commission should definitely also take Member States’ actual abilities into consideration in terms of raising the level of guaranteed deposits, in order to avoid situations in which raising the level of guaranteed deposits becomes a ‘race’, which may result in the poorer Member States finding themselves in a situation where they lack the funds to guarantee what has been guaranteed, and the same unsuspecting depositors may be the ones who suffer from this situation. Since EU financial markets are very closely interconnected, I support the rapporteur and also call upon the Commission and the Council to improve the required cross-border cooperation and to plan more specific measures that would help ensure better cooperation between Member States in a potential crisis situation."@en1

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