Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-413"

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"en.20100706.28.2-413"2
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"Madam President, I am happy to find my friend Michel Barnier in this Chamber. I would also like to say to Mr Manuel García-Margallo y Marfil how grateful I am to him for accepting that, once a credit establishment is no longer regulated by a national authority, the future European banking authority will have competence in this area. I am thinking of international public banking establishments and, in particular, of the European Investment Bank. I would like to discuss two subjects which seem to me to be important: first, accounting standards, and then the dispute that we have with our American friends on fair value. We will have to be able to deal with this agreement in the financial sector and in the context of insurance companies and market authorities and, if not, to have our own accounting standards in these financial sectors. Finally, if we should happen to address the question of the failure of states, I propose that we should think about the responsibility of credit institutions and, in particular, blame credit establishments for improperly supporting a state in financial difficulties. I think that it is not right that a credit establishment should continue to lend to a state which does not respect the rules of the Stability and Growth Pact."@en1
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