Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-912"

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"en.20100707.23.3-912"2
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"A European banking supervisory authority would consolidate the effectiveness of the thorough reform to the current system of supervision of financial markets to which the EU institutions are now committed, ensuring a structural basis for interventions with sufficient powers to avoid a repetition of this latest global financial crisis, something which would be unbearable for society and the global economy. In fact, the acceptance of a supervisory system based on the efforts of national authorities is completely inadequate, as their jurisdiction ends at their borders, while market actors are financial institutions whose actions take place over the borderless European area. I must therefore praise the rapporteur’s focus on the importance of small and medium-sized enterprises and the European perspective of the proposal."@en1

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