Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-412"

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	"hu"^^xsd:language2
lpv:document identification number	"en.20100706.28.2-412"2
lpv:hasSubsequent	lp_eu:2010-07-06-Speech-2-4132
lpv:speaker	lp:Enikő Győri2
lpv:spokenAs	member_of_the_bureau; EPP (2009-09-16--2010-08-31)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-22--2010-08-31)3 member; Delegation for relations with Japan (2009-09-16--2010-08-31)3 member; ECON (2009-07-16--2010-08-31)3 substitute; Delegation to the EU-Croatia Joint Parliamentary Committee (2009-09-16--2010-08-31)3 unknown; Fidesz-Magyar Polgári Szövetség-Keresztény Demokrata Néppárt (2009-07-14--2010-08-31)3 substitute; EMPL (2009-07-16--2010-08-31)3
lpv:translated text	"The crisis has taught us all some painful lessons. We cannot allow financial institutions to carry out speculative and unsupervised activities which pose a risk to the job security of millions. The new supervisory authorities will serve exactly this purpose. I am glad that the compromise suggestions made to the Council included amendments that are important for Central and Eastern European countries. For instance, it was accepted that central bank presidents of Member States outside the euro area will have the right to participate in the managing bodies of the European Systemic Risk Board, and it was also accepted that a simple majority decision-making process will be used if there is a dispute between supervisory authorities. The new supervisory authorities will have to be established by the start of the Hungarian Presidency, that is, by 1 January 2011. In order to reach a compromise, I believe it is necessary for both the Council and Parliament to make concessions when technically expedient and reasonable. For instance, the Council should allow the seats of all new authorities to be in Frankfurt, it should allow cross-border financial institutions to be placed under the supervision of the European supervisory bodies, and it should make it possible for these bodies to operate independently from the Commission. Parliament should also make concessions. Fellow Members, I do believe it would suffice if we focused exclusively on strategic guidance instead of establishing technical standards. Finally, ECOFIN should be granted the right to announce an economic crisis. I trust that a compromise agreement can be made along these lines by September at the latest, and that the new institutions will be in place on 1 January."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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