Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-407"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-07-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20100706.28.2-407"2
lpv:hasSubsequent	lp_eu:2010-07-06-Speech-2-4082
lpv:speaker	lp:Danuta Maria Hübner2
lpv:spoken text	"Madam President, the current crisis has taught us that when a European bank runs into trouble, its problems can spill across borders. An EU-wide system of financial supervision is being established to deal with the prevention of such situations, while an integrated European framework for cross-border crisis management will hopefully compliment the supervisory architecture as soon as possible. The last two years have proven that relying on national approaches to cope with crises is clearly a sub-optimal solution. The new system will have to be developed in such a way that a crisis can be handled cost-effectively, moral hazards eliminated and taxpayer finance bailouts excluded. Asset transfers will have to be regulated in a manner that ensures a level playing field, especially for host countries. The cross-border crisis management system – based on 28 regime concepts – should be designed in a way that would eliminate the interdependence between banks and national budgets. It should also contribute to the emergence of a single banking market of the Union. After all, if we had a single banking market in Europe, we would not have to talk about cross-border crisis management. Last but not least, let me emphasise that all the elements of the European financial stability framework, as well as the resolution regime for cross-border institutions, should be adopted urgently to reduce uncertainty and fragilities in the banking sector. Having a European mechanism in place would also allow Europe to be more effective in ensuring that global solutions materialise quickly."@en1
lpv:spokenAs	member; Conference of Committee Chairs (2009-07-20--2012-01-18)3,3 member_of_the_bureau; EPP (2009-07-21--2014-06-30)3,3 member; Special Committee on the Financial, Economic and Social Crisis (2010-07-05--2011-07-31)3,3 member; Delegation for relations with the United States (2009-09-16--2014-06-30)3,3 unknown; Platforma Obywatelska (2009-07-14--2014-06-30)3,3 substitute; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3,3 chair; REGI (2009-07-20--2012-01-18)3,3 substitute; ECON (2009-07-16--2012-01-18)3,3 substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2009-09-16--2014-06-30)3,3
lpv:unclassifiedMetadata	"Danuta Maria Hübner (PPE )."1
lpv:videoURI	<go to Events_and_structure europarl>2

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