Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-144-000"
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"en.20120216.23.4-144-000"2
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"Mr President, I voted against this report. Yes, I agree that we need to focus on banks, but we need to focus on ensuring banks are able to raise their capital requirements and continue lending. We need to be focusing on freeing up capital for growth in Europe.
It may well be the case that some Member States need to take action to support better-funded guarantee schemes, but this proposal is simply not proportionate. The 1.5% is not sensible and not suitable for my Member State, the UK, and therefore unacceptable to my Group. We must stop this ridiculous juggernaut of European financial regulation. Mindless harmonisation is not the answer. It will not solve our problems. It is the action of busy fools, and I really do not look forward to being around when that becomes the accepted wisdom."@en1
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