Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-122-750"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-07-03"^^xsd:date2
dcterms:Is Part Of	lp_eu:Conclusions of the European Council meeting (28-29 June 2012) (debate)2
dcterms:Language	"pl"^^xsd:language2
lpv:document identification number	"en.20120703.5.2-122-750"2
lpv:hasSubsequent	lp_eu:2012-07-03-Speech-2-122-8752
lpv:speaker	lp:Sławomir Nitras2
lpv:spokenAs	unknown; Platforma Obywatelska (2009-07-14--2014-06-30)3,3 substitute; PECH (2012-01-19--2014-06-30)3,3 member; EPP (2009-07-14--2014-06-30)3,3 substitute; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2011-09-29--2014-06-30)3,3 member; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3,3 member; ECON (2012-01-19--2014-06-30)3,3
lpv:translated text	"At the European Council in June, ambitious declarations were made about reforming the institutional structure of the euro area. However, only determination in implementing what was decided will demonstrate the Council’s significance in terms of strengthening the euro area. The Member States supported the proposal to establish a single banking supervisor for the euro area. This is a very ambitious challenge, considering both the deadline set – the end of October 2012 – and the protracted process of negotiations on supervisory requirements for the banking sector under the CRD4/CRR legislative package. The arrangements made about the requirements for granting financial assistance to Member States are another important matter. Among other things, it was decided that Italian bonds will be bought using European rescue funds, but without the application of rigorous monitoring programmes. Furthermore, a guarantee was agreed that loans made to Spain from the fund will not be classified as unsubordinated debt, which should increase confidence and demand from private investors in the debt market. The spectacular nature of the declarations formulated at this Council has brought an enthusiastic reaction from the financial markets, despite the fact that the level of rescue capital has not been changed. I think establishing a single banking supervisor and a bank recapitalisation fund will increase financial stability in the euro area. Since we are in a crisis, the new institutions could follow the example of the American federal institutions in the wake of the collapse of Lehman Brothers in 2008 and carry out immediate recapitalisation of financial institutions in order to prevent a knock-on effect."@en1

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