Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-175"
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"en.20090422.49.3-175"2
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"Mr President, I would like to congratulate Mr Skinner on this report. He has done an excellent job. It has been a huge undertaking but he has really delivered on this very complex piece of legislation. I would also like to congratulate the European institutions and Member States, who have brought us this successful conclusion of Solvency II.
It is a good example of how Europe must work together towards financial recovery. Burdens will be shared, as will solutions. This European approved response is a good example of a closer relationship on financial cooperation. We have to work to make sure that there is never again a banking crisis like the one we are going through at the moment.
I did notice with great interest the Commission’s approval of a mortgage support scheme for UK homeowners. This scheme will allow householders who are unable to meet their mortgage repayments to defer all their principal and up to 70% of their interest payments for a period of two years. We should carefully follow the progress of this scheme and learn from and implement any effective measures that would ease the burden we carry.
I think this is something that all Member States can look at, but I also think that financial institutions in Member States themselves could make it easier for people to move to interest-only mortgages if they found themselves in difficulty. The financial institutions, considering the support that they have from Member State governments, could do a lot to help people who are under stress because of the recession."@en1
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