Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-022"
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"en.20100908.3.3-022"2
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"Madam President, I welcome the agreement on the supervisory architecture. I know that my colleagues have not found it easy to reach that agreement. It has been a delicate balancing act between protecting markets from cross-border risks and yet also maintaining national governments’ responsibilities.
The Commissioner has described this, quite rightly, as just the first brick. I look forward to working with the Commission to ensure that future bricks do not overtopple that delicate balance.
Fundamentally, it is no good for Member States to agree standards internationally and then fail to implement them domestically. I hope that this will ensure that we all abide by our international rules.
During the debate, many of my colleagues said that it was important that the head of the ESRB was the head of the ECB. We promised to listen to him when he warned us of risks. Yesterday, he warned the Council of the risk of a financial transaction tax and told us that this could be a disaster for Europe. Let us make sure that we, as politicians, hold on to our promise and actually listen to the person we say we will listen to."@en1
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