Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-924"
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"en.20100922.20.3-924"2
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"The financial crisis has shown micro-supervision by the national authorities to be insufficient to enable systemic risks to be identified and averted swiftly. We must establish an effective European system of supervision to monitor, assess and avert potential risks to financial stability. The report clearly highlights the importance of preserving the unity of the European single market. However, it is also very important to protect the internal market from goods from those countries that do not foster values like democracy, ecology and social guarantees, which is why goods and services from those countries are becoming cheaper and our European companies will be unable to compete under such circumstances. I agree with the observations made this month by President Barroso: ‘We have the people. We have the companies. What they both need is an open and modern single market’. The internal market is Europe’s greatest asset, but we are not using it to its full potential. Only 8% of Europe’s 20 million SMEs engage in cross-border trade. Still fewer engage in cross-border investment. The European Systemic Risk Board would be the main pillar of the EU supervision structure and, in this way, would help make the internal market function more harmoniously. Along with the values mentioned, the European single market was one of the main reasons behind the accession of Lithuania and the Member States of other fellow Members to the European Union. Any significant split or misunderstanding would undermine the decade-long efforts to remove borders and barriers."@en1
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