Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-218-750"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-02-16"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20120216.23.4-218-750"2
lpv:hasSubsequent	lp_eu:2012-02-16-Speech-4-219-0002
lpv:speaker	lp:Juozas Imbrasas2
lpv:spokenAs	substitute; REGI (2012-01-19--2014-06-30)3 member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 member; EFD (2009-07-14--2014-06-30)3 member; TRAN (2012-01-19--2014-06-30)3 substitute; Delegation for relations with the Korean Peninsula (2012-02-15--2014-06-30)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 unknown; Partija Tvarka ir teisingumas (2009-07-14--2014-06-30)3 member; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3
lpv:translated text	"I voted in favour of this document because the formulation of common requirements applicable to deposit guarantee schemes would make it possible for Member States to organise these schemes in as flexible a manner as possible while providing uniform protection, ensuring equal stability and avoiding distortions of competition. While maintaining the same coverage and target levels and abiding by the stipulated time limits for reimbursements and terms relating to the use of funds, Member States will thus have the opportunity to adapt their deposit guarantee schemes to national features of financial markets. By means of this approach, effective protection of depositors will be achieved and the stability of the financial system ensured. A higher coverage level is not sufficient to credibly protect depositors. In order to counteract the danger of bank runs and prevent a possible destabilisation of financial markets, deposit guarantee schemes must also be adequately financed. During the financial and economic crisis, however, it has become apparent that individual national deposit guarantee schemes in Europe were inadequately financed, so that the State and, ultimately, the taxpayer had to bear the consequences of the failure of a credit institution. In order for deposit guarantee schemes to have a stabilising effect at times of financial stress, it is therefore also necessary throughout the EU to finance deposit guarantee schemes adequately in advance ( ). Depositors must be better informed than has hitherto been the case about how deposit guarantee schemes operate and must be reimbursed rapidly if the occasion arises. Bringing the measures together will increase depositors’ confidence, promote the stability of the European financial system and help to build the internal market."@en1

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