Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-095"
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"en.20100922.4.3-095"2
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"Madam President, at the end of this debate, I would like to thank each of the rapporteurs, group representatives and MEPs who spoke, almost unanimously, in favour of supporting this compromise and this agreement.
I would like to confirm that these new European authorities and the European Systemic Risk Board will not replace national supervisors, but rely on them and make them work better together, …
put them into a network, pool competence and expertise to have a good European response when it is necessary, faced with European risks and sometimes more, in financial establishments which, as I told you, are largely transnational.
This framework will exist thanks to you and the Council. As has been said, we will fill it brick by brick: the payments system as per the Single Euro Payments Area, from October, the regulation on bank capital, the review of the directive on market abuse, undertakings for collective investment in transferable securities for depositaries, rating agencies, risk management and finally, corporate governance. That is what lies ahead of us, not to mention the regulation of investment funds.
We will carry out this work with determination. We will do it so that at the end of the road, as I told you, ladies and gentlemen – and it has been our road map since the G20 – no financial player, no product, no market or any territory will remain immune or excluded from intelligent regulation and effective supervision.
Ladies and gentlemen, our ambition, my ambition, should be that together, at the end of this road that is short, because citizens are watchful and demanding as they have every reason to be, we will have built the world’s best system of regulation and supervision before it is too late. It is Europe’s duty to have the ambition to build the necessary model of regulation and supervision in the world. That is our objective and it is in the interests of citizens, consumers and the financial industry itself."@en1
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"(The President calls for silence)"1
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