Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-952"
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"en.20100922.20.3-952"2
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"I voted in favour of the following report as I believe that what Europe really needs is a financial supervisory body, like a complex yet efficient structure, which is able to dominate the financial institutions of the European Union and ensure that they function properly. In view of this, I look very favourably upon the creation of a European Banking Authority, a European Insurance and Occupational Pensions Authority and a European Securities and Market Authority, because I feel that this is the only way that we can improve the current level of regulation within the European internal market, guaranteeing both incorruptibility and the proper functioning of the markets, while preserving the stability of the financial system and ensuring the coordination of European and international monitoring. We can only identify the risks of financial systems through better monitoring, which will give us timely warnings about crises like the one which devastated the world in 2008. This powerful crisis has brought home the need to reform this sector so as to maximise competition by encouraging genuinely competent supervisory bodies which are truly able to make a much needed difference in this important sector."@en1
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