Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-216-468"

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"en.20120216.23.4-216-468"2
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"In 2008, the collapse of the fourth largest investment bank in the United States, Lehman Brothers, unleashed a tsunami through the financial sector because of fear that its customers would not be repaid what they were owed. With the exacerbation of the global crisis, other banks have collapsed and their depositors have not always recovered their savings. This situation has caused the public to have a certain amount of mistrust in financial institutions, which needs to be won back. This report, drafted by Mr Simon, concerns the proposal for a directive of the European Parliament and of the Council, at first reading, on deposit guarantee schemes. I welcome this proposal for a directive intended to create a fund for guaranteeing deposits, since it cannot be the taxpayer that pays for the banks’ financial problems. On the contrary, the public should have guarantees that, if a bank fails, their deposits will not be under threat and they will be reimbursed within a reasonable timeframe. I voted for this report, since the new regulations will benefit the European public and society through guarantees and harmonisation, thereby contributing to the construction of a single market in financial services at European level."@en1

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