Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-03-Speech-4-482-000"
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"en.20110203.25.4-482-000"2
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In the new central European Supervisory Authority, national interests are represented by the bodies that supervise the financial markets, in the case of Austria, for example, the FMA, which are members of the new authority and have voting powers. The national banks also take part in the authority’s meetings, but they are not entitled to vote. I am opposed to the appointment of the specified candidate as the chair of the European Banking Authority. Therefore, I support the report, as in my opinion this will result in costly duplicate structures, which is demonstrated, among other things, by the fact that the individual supervisory bodies are based in different cities. In addition, financial supervisory authorities only represent part of the overall solution. The sanction mechanisms aimed at Member States with high budget deficits must also be tightened up."@en1
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