Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-090"
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"en.20100922.4.3-090"2
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"Madam President, ladies and gentlemen, we are convinced that in the global market, no financial player, product or region may escape regulation and appropriate controls. The recent crises have demonstrated the need to take decisions in 48 hours, and to have common rules.
Banks deemed ‘too big to fail’ must be supervised at European level. Furthermore, in the event of future crises, the costs must not be borne by the citizens. We must put transparency, accountability and ethics at the heart of the financial system. I applaud the agreement reached in which Parliament played a key role.
My position has always been in favour of creating independent authorities with sanctioning powers and the possibility of intervening in specific cases. I agree with creating two funds, which cannot be designed as a tax on banks: this would not be the answer.
All this is to ensure recovery, to prevent costs being passed on to small and medium-sized enterprises and citizens and, above all, to avoid having a single banking system."@en1
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