Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-05-21-Speech-2-560-000"
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"en.20130521.40.2-560-000"2
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"Mr President, I want to thank the rapporteurs for the work they have done on this and to acknowledge Mrs Creighton’s work during the presidency.
I want to say a particular word of acknowledgement to Commissioner Barnier because he always listens and tries to listen, and to thank him for his willingness to meet with people. I really appreciate that.
There are four quick points I wish to make. The European Commission has made it clear that all steps necessary for the creation of the European Banking Union can be created within the limits of the existing EU treaties. I think any doubts about that need to be nipped in the bud, because it only creates a lack of confidence for people to be talking about treaty changes that probably cannot be delivered.
Secondly, in relation to the recapitalisation of the banks, this has to be available on a retrospective basis to banks that are capable of taking on the responsibility of restructuring and have shown their ability to step up to the mark, so to speak.
Three: I want to make the case – and I think the Commissioner needs to take an interest in this, and the minister, and the House – that banks simply cannot pass on interest rate increases to mortgage payers whenever they need to increase their profits, or refuse to pass on interest rate cuts, because they are becoming like tax-raising authorities, imposing these charges on people who have already paid their taxes through the nose to recapitalise these same banks. That is unfair and unjust and it should not be possible to further burden mortgage payers in this way.
Lastly, I want to raise the question about deposits. I do not believe there should be any doubts raised by anybody about deposits. In Ireland, the effect of that was that the people who went to the building societies and banks in the village took out their money, went to the other end of the village and put it in a post office, which meant that the state ended up guaranteeing it all anyway, while banks were running dry.
Let us raise no question about deposits. We will end up as the guarantor for all of it anyway, and I think it is a very unwise thing to be even discussing publicly."@en1
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