Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-216-000"
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"en.20120216.23.4-216-000"2
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"I voted in favour of this report because I believe that, as the financial crisis continues, the creation of a single EU-wide deposit guarantee scheme is particularly relevant and necessary. Existing national deposit guarantee schemes in the EU must reimburse depositors in the event of failure of a credit institution up to a certain ceiling. In truth, during the financial and economic crisis, the coverage level was increased to as much as EUR 100 000 per depositor and the time limit for paying depositors was reduced to a maximum of 30 working days. The increased level of protection improves depositors’ confidence and thus helps to prevent simultaneous withdrawals by many depositors prompted by a fear of losing their money. These steps to strengthen the confidence of depositors are very welcome but more can and must be done. That is precisely why we are considering laying down a binding requirement throughout the EU that deposit guarantee schemes in all EU Member States and all credit institutions should comply with common requirements. This would avoid any distortion of competition, protect depositors equally in all Member States and prevent destabilising displacements of deposits."@en1
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