Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-724-000"

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"Mr President, Commissioner, in the analysis of the banks carried out in 2010, it was uniformly recognised that one of the problems of these tests has been the predominant national logic, whether with regard to methodology, to diagnostics or to the choice of criteria. Later, in the report that you kindly mentioned, for which I was rapporteur, this Parliament asked for the strengthening of a European dimension for managing bank crises. In the meantime, the Systemic Risk Board and the European Banking Authority (EBA) have been set up, indicating that finally, we were going to give the banking sector a European dimension. However, the stress tests that we are discussing were referred to as follows by the European Council on 24 and 25 March. I will read it in English, because that is the document I have. ‘Member States will prepare, ahead of the publication of the results, specific and ambitious strategies for the restructuring of vulnerable institutions, including private sector solutions ... but also a solid framework in line with State aid rules for the provision of government support in case of need.’ Therefore, as regards the stress tests, what we are doing at the moment – without any clear, comprehensible framework harmonising the various national practices – is again recommending that it is up to the Member States: we are again reinforcing the national dimension of approaching the solution and of correcting the stress tests on the banking sector. This leads me to a fundamental question. With this type of methodology, will we not lose a golden opportunity to finally create a European, rather than national framework to solve the problem of regulation?"@en1
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