Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-915"
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"en.20100707.23.3-915"2
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"I have come out clearly in favour of this report, which aims to create a European banking authority and to put in place a regulatory mechanism for future crises so that European citizens do not have to bear the consequences of a collapse of the financial system. I particularly welcome the European approach adopted by our rapporteur. Indeed, he is clearly in favour of a so-called ‘European’ option which would involve giving the colleges of supervisory authorities the power to set out mandatory standards where agreement cannot be reached at a national level. In addition, the creation of a European fund pre-financed by financial institutions is envisaged, the aim being to protect depositors and help establishments in difficulty when their insolvency risks destabilising the entire system. Finally, I am very much in favour of the support that the rapporteur seeks to give to small and medium-sized enterprises, which are often under-represented in the banking sector. The report thus makes provision for the representatives of organisations of small and medium-sized enterprises to have a voice in the group of parties concerned in the banking sector and to elect two of the board members of the supervisory authorities."@en1
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