Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-05-21-Speech-2-571-000"
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"en.20130521.40.2-571-000"2
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"Mr President, I too would like to compliment Commissioner Barnier for his good work on this, and indeed many other briefs, and also the Irish Presidency, Minister Creighton and Minister Noonan, for the progress they have made and the hard work they have done trying to bring this whole project forward. They have done so very successfully.
I think the result of the creation of the banking union is that citizens will now have renewed trust in the banks, something they have not had for some time. The deposit guarantee scheme should also ensure that there will be certainty for depositors, which is very important as well.
The single supervisory mechanism, I think, will focus the attention of the board of directors and shareholders on what they should be doing so that mistakes will not be made as in the past, because the message is now clear that, from now on, banks are not too big to fail. The banks are too big to bail, and any bailing will be done by themselves – a bail-in rather than a bailout. Bravo."@en1
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