Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-230"
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"en.20100922.20.3-230"2
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"If there is one thing that we have all learnt from the recent crisis, it is the need to reform the institutional supervisory structure by creating European bodies and, in so doing, to rethink the whole concept of macro- and micro-economic supervision.
As I have had occasion to say countless times before, I personally am not afraid of having European supervisory authorities. I consider it essential for them to exist and to be able to carry out their mandates both independently and competently, so as to strengthen the confidence of the markets and their players.
In this particular case, the creation of a European Systemic Risk Board is designed to provide the European Union with an effective supervisory system without hindering economic growth; to safeguard the single market against the risk of fragmentation; and, lastly, through the development of a European macro-prudential perspective, to help resolve the problem of fragmented individual risk analysis at national level, while enhancing the effectiveness of early warning mechanisms and allowing risk assessments to be translated into concrete action.
The creation of this European Systemic Risk Board is therefore to be welcomed, and I hope that excellence in carrying out its mandate will be the starting point for better supervision in the Union."@en1
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