Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-261"
Predicate | Value (sorted: default) |
---|---|
rdf:type | |
dcterms:Date | |
dcterms:Is Part Of | |
dcterms:Language | |
lpv:document identification number |
"en.20100922.20.3-261"2
|
lpv:hasSubsequent | |
lpv:speaker | |
lpv:spoken text |
"The European Parliament today adopted legislation creating new EU financial supervisory authorities (for banking, insurance, pensions, securities and markets) and a European Systemic Risk Board (ESRB). Today’s vote not only establishes EU-level financial supervision, it also represents a landmark for the creation of a new EU financial architecture and stronger regulation of Europe’s financial markets. Europe-wide regulation is the only viable response to the financial challenges we face and to preventing a return to financial chaos. This underlines the relevance of the EU at a time when renationalisation is raising its head. The supervisory authorities will be more important than originally foreseen and have real teeth due to the insistence of the EU Parliament.
A cross-political alliance of MEPs worked to ensure the authorities were given real powers in the face of opposition from some Member States that refused to acknowledge lessons from the financial crisis. Unfortunately, it seems Parliament will have to continue to fight to ensure the new authorities are able to provide meaningful supervision. This means ensuring that the new authorities are sufficiently staffed and that they will have direct supervisory powers over market infrastructure (such as central counterparties and trade repositories). The Greens are already working with the other main political groups to this end."@en1
|
lpv:spokenAs | |
lpv:unclassifiedMetadata |
Named graphs describing this resource:
The resource appears as object in 2 triples