Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-207"

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"en.20100707.23.3-207"2
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"Madam President, ladies and gentlemen, I strongly believe in the establishment of these independent and powerful authorities endowed with the disciplinary power and ability to intervene directly without going through Member States, the Council or the Commission. However, I also have a few reservations, because we have to avoid any form of tax burden being imposed on the banking system. This is entirely for the sake of the recovery and to prevent the costs from being passed on to SMEs or the public and, above all, because we do not have a single banking system. For instance, the Italian banking system withstood the storm and proved to be healthy and founded on solid finance, based primarily on the savings of its citizens and not on speculation, as was the case in other countries. I still harbour some doubts about the prohibition, although temporary, of financial activities, which should depend on exceptional circumstances if possible. I also believe that it is a good idea to clearly define the direct supervisory responsibilities of the European Supervisory Authority (ESA) in relation to groups of systemic relevance and to clarify the role of the macro-prudential supervision of the European Systemic Risk Board (ESRB) and the micro-prudential supervision of the ESA. For these reasons, I hope that today’s vote will allow us to reach a prompt, timely and balanced compromise with the Council."@en1
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