Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-015"
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"en.20100908.3.3-015"2
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"Madam President, Commissioner, I should like to start by paying you a compliment. It is obvious that you are willing. The question is just: Are you allowed to be willing? With regard to the process that you are pursuing with such enormous dedication, I would call on you urgently to make the matter clear to our citizens by outlining the reason for the failure despite all the good will shown, and by explaining why we have only made limited progress on the four cornerstones that are central to the issue.
It is apparent that we need clarity on why the supervision of the financial markets in the US is stricter and more critical in key areas than what you are trying to establish now. We also need clear answers as to how you actually intend dealing with the problem of the conduit banks and what degree of success we can expect there. We also need clarifications in relation to capital. What is the Commission’s intention? There is plenty of detail here, but how do you intend making sure that a crash cannot happen again?
I would also like to ask a question as a representative of a small Member State: What can we do to limit the problem of banks that are too big to fail? In Austria, we have a situation with one bank, Hypo Group Alpe Adria, where, if the loans were to be called in, the burden of debt on the Austrian state would be so high that we would find ourselves in the same category as Greece. Is the Commission issuing a warning about this? What is it doing? How does it intend to prevent Austria from becoming another Greece for the European Union?"@en1
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