Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-13-Speech-4-312-500"
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"en.20120913.29.4-312-500"2
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"We expect accountability with regard to the common banking supervision of the euro area. This is what the resolution that I myself supported at the Thursday vote states. The document calls on Member States to introduce ‘quality’ rules to guarantee the democratic accountability of the common European banking supervision to be established, but also notes that on the basis of current Member State concepts, there is a risk that the actual rules will send the wrong message and will sustain poor efficiency. I am hoping for a system that would stabilise the euro area – after all, this is in the interest of non-euro area countries as well – while not making the situation of banks outside the euro area worse. Unfortunately, some measures that reinforce the stability of the euro area (such as the withdrawal of capital from eastern subsidiaries to allow increased lending at home) can have an acute impact on Member States outside the euro area. It must therefore be pointed out that the resolution stresses the importance of the creation of a mechanism to manage the ripple effects of the establishment of a banking union in the euro area on non-euro area Member States. I believe that the system can only be good if it addresses this extremely difficult situation by applying uniform rules throughout the European Union to create equal rights and obligations for Member States both inside and outside the euro area."@en1
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