Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-276"
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"en.20100707.23.3-276"2
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"I voted in favour of Mr Skinner’s report on the establishment of a European Insurance and Occupational Pensions Authority. I have always believed in the need for Europe to equip itself with common and effective rules and instruments to overcome the financial crisis and launch the economy anew.
Therefore, there is no time to lose: action must be taken quickly to develop this supervisory architecture through the creation of independent authorities granted disciplinary powers and the possibility of intervening directly without having to go through the Council or the Commission. However, I do have reservations about the sector’s contribution. I agree that citizens must not be made to pay for failures by financial institutions; however, a subtle distinction must be made.
Over the course of this crisis, some systems held up well and were not forced to request public support. Any suggestion of tax burdens should therefore be ruled out. This must all be done to support the recovery and to keep the costs from being passed on to SMEs. Today, Parliament took a responsible stance towards the Council, and I hope that today’s vote will enable us to reach a rapid and balanced compromise with the Council and the Commission."@en1
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