Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-02-06-Speech-4-186-000"
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"en.20140206.26.4-186-000"2
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"Mr President, more than six years after the run on Northern Rock and more than five years after the failure of Lehman Brothers, we still have not really tackled the problem of banks being allowed to fail or made sure that taxpayers are no longer liable. Here in Parliament, we want to be seen to be doing something but what we have done, with this single resolution mechanism, is to conflate and confuse the single market with banking union. This means that eurozone banks could find themselves being bailed out by non-eurozone Member States.
What we should do is get back to the basics and understand the three issues we need to tackle. We need to: end taxpayer bail-outs; make directors liable for failure; and return to true and fair accounting standards so that banks’ accounts are more accurate."@en1
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