Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-374-000"

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"Mr President, Commissioner, I extend warm thanks for your cooperation on one of the important elements in the banking union project, deposit guarantee schemes. You have quite rightly pointed out that the four pillars alongside supervision are of equal importance. Deposit guarantee schemes and crisis funds are two of these four pillars. This morning, Commission President Barroso stated that we could not have a situation where, in future, citizens would still have to pick up the tab for the mistakes of the banks. As you know, you have significant support in this House for the best possible financing of deposit guarantee schemes and crisis management. However, you know as well as I do that our common opponent is sitting in the Council. You know as well as I do that the deposit guarantee scheme that we adopted with a large, cross-party majority seven months ago with a worthwhile level of funding that would bring stability to the area has been given the green light by this House and sent forward for implementation. For the last seven months, the governments of the Member States have done nothing to meet us half way, nothing to ensure the future stability of the systems. I would like to ask at this juncture how you think we can rescue this situation. One thing is clear: Parliament will not allow plans to be drawn up for chronically underfunded guarantee schemes that are not worthy of the name. How can we work together to persuade the Council to keep its promises, so that our citizens are no longer asked to provide backing for banks that should be wound up or to pay out on deposits, but that the banks themselves should provide their own protections in future by contributing to corresponding funds?"@en1
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