Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-214-000"
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"en.20120216.23.4-214-000"2
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"The current economic and financial crisis has affected not only the political and institutional mechanisms of Member States, but also the ordinary citizens. As the closure of several banks has fully demonstrated, the stability of deposit and credit systems is essential to the success of the European economy. Member States’ citizens had to be compensated practically from public funds because of the failure of banking institutions responsible for managing their deposits. In these circumstances, the establishment of a European deposit guarantee scheme contributes significantly to the effective and real time protection of the European citizens’ savings. A further concrete advantage of the proposal is the establishment of protection measures enabling the prevention of banking institution failures, warning the national and European authorities in real terms about the existing systemic risks. I support the adoption of this measure by the European Parliament, which complements the directive adopted previously by the Council and the European Parliament on the increase of the deposit ceiling guaranteed by public authorities and on reducing the time for compensating the depositors. At the same time, I believe that by adopting this proposal, a decisive step is made towards achieving a genuine single market in banking services."@en1
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