Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-373-000"
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"en.20120912.22.3-373-000"2
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"Mr President, Commissioner, with the legislative proposals you have announced today, the Commission will really be putting money where its mouth is and that is a positive thing for three reasons.
It is a good thing because it is now clear that, following in the Council’s footsteps, the Commission has now reached the same conclusions as Parliament in 2010, namely that we need a banking union. Secondly, this is positive because the creation of a European surveillance mechanism offers the prospect of breaking the vicious circle between the banking problems and those of national debt, and thus the taxpayers. The third reason why this is to be welcomed is because concrete policy processes have now been put into motion. It is only with solid and conclusive decisions and with serious concrete steps forward that we will be able to regain the confidence of the people and the markets.
We should now discuss this in detail. This is a proposal that demands a lot of attention because it is a very radical proposal. Later, we will definitely have the opportunity to return to this issue. But what I would now like to add is: in Parliament we have been concerned on at least one occasion about the democratic dimensions of this issue and– as you have already indicated – about its legal basis and the consequences of that basis on the involvement that Parliament can have in this important matter.
I am pleased that we will not be choosing a different legal basis: we would need at least another six months, and that is a considerable loss of time, time that we cannot afford to lose. So, I am pleased that you have announced – as Mr Barroso said this morning – that we should debate these two proposals together. We trust that that will take place and that there is an agreement with the Council on that. It is the best guarantee of achieving high-quality surveillance, the kind of surveillance that is necessary to ensure that the banks again play the role that they have to play, and that is being at the service of the real economy and ensuring growth and jobs.
I look forward to working constructively with everyone involved."@en1
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