Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-04-15-Speech-2-188-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2014-04-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund (A7-0478/2013 - Elisa Ferreira)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20140415.48.2-188-000"2
lpv:hasSubsequent	lp_eu:2014-04-15-Speech-2-189-0002
lpv:speaker	lp:Emer Costello2
lpv:spoken text	"Madam President, I commend the rapporteur on this report. The new Single Resolution Mechanism for European banks that was adopted by the European Parliament today is a vital and essential step towards breaking the link between bank debt and sovereign debt and for the retrospective capitalisation of Irish banks, which was agreed upon by EU leaders in June 2012. The SRM regulation introduces a coordinated European approach for failed banks. It stipulates that bank shareholders and creditors should bear the cost of bank failures, and that private sector solutions should be found rather than using taxpayers’ money. Ireland’s economic recovery is very much challenged by the fact that one quarter of our debt was placed on the shoulders of Irish taxpayers in order to safeguard the euro. In agreeing, in June 2012, to break once and for all the link between bank debt and sovereign debt, EU government leaders accepted the principle of the recapitalisation of Irish banks. Given that the practical effect of this decision means proper European banking regulation, a single supervisory mechanism for banks, a single resolution framework for failed banks and a European deposit guarantee scheme, I was happy to support the resolution and the report."@en1
lpv:spokenAs	member; Conference of Delegation Chairs (2012-02-29--2014-06-30)3 chair; Delegation for relations with the Palestinian Legislative Council (2012-02-29--2014-06-30)3 member; EMPL (2012-02-15--2014-06-30)3 unknown; Labour Party (2012-02-15--2014-06-30)3 member; S&D (2012-02-15--2014-06-30)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2012-03-06--2014-06-30)3 substitute; DEVE (2012-02-15--2014-06-30)3
lpv:unclassifiedMetadata	"Emer Costello (S&D ). -"1
lpv:videoURI	<go to Events_and_structure europarl>2

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