Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-09-12-Speech-4-205-000"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20130912.43.4-205-000"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
"Mr President, it has been nearly six years since the run on Northern Rock and more than five years since Lehman Brothers collapsed, and what have we done at EU level? We have brought in a whole new European supervisory architecture – the European Banking Authority (EBA), the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority, the Systemic Risk Board – but what we have not done is to tackle the fundamental problems.
There are three things we should be focusing on. Firstly, there should be no more taxpayer bailouts for failing banks, but it should be ensured that essential services continue while a failing bank is being wound down. Secondly, we should make sure that there is director liability. I have no objection to bankers earning as much money as possible if they perform well, but if they preside over failure they should pay the price. Let them be aware what is on their balance sheet. Thirdly, let us put an end to accounting standards that allow banks to have financial instruments on their balance sheet whereby they can book profits up front but not make sufficient provision for losses.
Those three principles will go much further than the EBA in tackling the fundamental problems of banking."@en1
|
| lpv:spokenAs | |
| lpv:unclassifiedMetadata | |
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples