Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-04-15-Speech-2-205-000"
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"en.20140415.48.2-205-000"2
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"As a UK Conservative, I am glad that the Single Resolution Mechanism for failing banks within the eurozone and for those Member States who want to join it has finally reached political agreement. A eurozone with resolution mechanism in place for their banks is good for the UK, as we have seen how bank failures and the spill-over effects from the eurozone also hurt our economy. While a common backstop for banks within a currency union seems to have been proven necessary, the same does not hold true for the UK, as we should remain outside of it. The Banking Union is a huge project on the part of those in the eurozone and, while it may provide some of the tools necessary for stability in the common currency going forwards, all of the EU Member States must take responsibility for their economies and stick to the rules they have signed up to. No number of treaties or grand announcements will supplement the need for the real reform and budgetary discipline that is needed to make the EU competitive on the global stage."@en1
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