Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-05-21-Speech-2-530-000"
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"en.20130521.40.2-530-000"2
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"Mr President, the move towards a Europe-wide banking union has been described as one which will restore confidence in the eurozone banks, ensure the long-term validity and reliability of the banking sector and remedy the current financial crisis. If I truly believed that it could, and indeed would, actually achieve these things, I would say: by all means, go ahead and proceed towards this Union.
However, I ask that my fellow MEPs remove their rose-tinted spectacles for a moment and see the proposed banking union for what it truly is: yet another futile attempt by the EU to clear up or indeed cover up a mess that it partly created in the first place. This proposed banking union represents a single one-size-fits-all approach that does not show the slightest regard for the hugely complex nature of the financial crisis we currently find ourselves in.
A single rule book that is to be applied across all financial services is simply not the answer here, and as for the suggestion that achieving a banking union will strengthen the single market, why on earth would you want to strengthen a market that (1) does not make economic sense for the UK or, indeed, several other Member States, and that (2) has been the root cause of so many problems in Europe in recent times, not least the horsemeat scandal? We do not want a single market, neither do we want membership of a political union or to participate in a banking one."@en1
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