Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-04-15-Speech-2-193-000"

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"en.20140415.48.2-193-000"2
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"UKIP’s position is: against. The SRM, which complements the single supervisory mechanism (SSM), is a pillar of Banking Union. It is designed to centralise control, authority and management over bank failures in the Eurozone (and other participating Member States – the ‘pre-ins’ such as Sweden). However, much of the drafting fails to make adequate distinction between the UK and the Eurozone, leaving room for judicial ‘interpretation’ to harmonise across the whole single/internal market – in fact the Committee amendments expressly encourage this. Moreover, Banking Union is against the long term interests of the Member States of the Eurozone as it perpetuates the euro as a job-destroying machine."@en1
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