Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-246"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20100922.20.3-246"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"The current financial crisis has brought to light something that Parliament criticised many years ago: the lack of adequate financial regulation and the weakness of the market supervisory mechanisms.
Parliament warned that, if a crisis in the system were to be avoided, it was essential to pursue three objectives: liberalisation of the markets, strengthening of control mechanisms and harmonisation of taxation on savings. To close the regulatory gaps and alleviate and correct the weaknesses in the supervisory system, the Commission recommends the establishment of a network of national supervisors and the introduction of a single rulebook to protect depositors, investors and consumers in the European Union.
The ‘Europe’ solution would mean giving the colleges of supervisors the right to dictate rules, compliance with which would be mandatory, when national supervisory authorities cannot reach an agreement. Parliament’s report also proposes the creation of a European Fund financed by contributions from the financial institutions to protect depositors and rescue institutions in difficulty where their bankruptcy could ruin the entire system. The ultimate aim of this report is to establish a mechanism to resolve future crises that will make it less likely that European taxpayers will find themselves having to deal with the repercussions of a breakdown in the financial system."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples