Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-376-359"
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"en.20110511.28.3-376-359"2
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"The smooth functioning of the Internal Market depends on the stability of the financial system and, consequently, on the trust put by the European public and consumers in financial institutions and transactions. As such, there is a need to strengthen and review the current systems, which have been shown to be inadequate, with particular emphasis on mechanisms of control and supervision.
To this end, I welcome the conclusions and observations of the Green Paper and the opportunity to improve the governance of financial institutions through the Union. I also join the rapporteur in calling for a cost-benefit impact assessment of the Commission’s proposals, with a focus on the need to preserve competitiveness and contribute to economic growth. As such, there is an urgent need to find mechanisms and solutions that enable risk reduction and create a permanent dialogue between the supervisory authorities, auditors and the institutions."@en1
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