Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-03-10-Speech-4-445-990"
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"en.20160310.30.4-445-990"2
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"Although the banking union is a pillar of the monetary union that the UK is not party to, the increased economic stability it will provide is of great benefit to the British economy. Such moves may well help prevent or mitigate the next financial crisis.
I welcome the call in this report for banking union measures to take into account a diversity of business models, as cooperatives and mutuals have an important role to play in a more socially just and more democratic economy.
We must always keep at the forefront of our minds that the banking and financial services industry is exactly that: a service for the real economy, that must result in inclusive and sustainable growth. Never again must we promote the growth of our financial industries as an end in itself. The banking sector must be regulated to guarantee responsible decision-making for the benefit of ordinary working people and for those who are without employment. Again, this is something that the EU can deliver, and that the UK, unfortunately, could not or would not do alone."@en1
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