Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-23-Speech-1-084"

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"Mr President, eight years after the changeover to the euro, I think that it is reasonable for the Union to provide itself with a single market in payment services. I think that it is just as reasonable for this Parliament to have insisted that, at the same time as implementing this single payments market, we legislate on the new actor entering this market – payment institutions. When I look at all the parties involved in the creation of this new dimension of the internal market, whether they be banks, distributors, administrations or consumers, I feel that, ultimately, we would better appreciate the validity of the legislation that we are going to adopt if, in the future, payment services were cheaper for consumers and if their diversity were promoted in such a way as to make modern payment methods more easily accessible. I also believe that we were right to insist that payment institutions should perhaps not be subject to all the rules laid down by Basel II, but that, as a minimum requirement, their stability and viability should be guaranteed in the interests of consumers. Furthermore, I regret that there has been some confusion regarding the difference between the concept of loan and that of payment. I hope that the agreement reached with this text will not compromise an agreement on a consumer credit directive, which the Union sorely needs. Finally, I must emphasise the meaning of Amendment 287 and, above all, the letter that the President of our institution has received from the chairman of the ‘Article 29’ group, responsible for data protection within the European Union. We cannot agree today to vote for the report by our fellow Member, Mr Gauzès, without having guarantees from both the Commission and the Council. Therefore, I am addressing our two institutional partners so that, when the SEPA system is implemented, we are not in a situation which, with what we know of the SWIFT system, causes us to exacerbate the wayward developments that we are seeing. We need to know that, when the SEPA system enters fully into force, we will have a system that enables us to protect the data exchanged through SWIFT. We also need – and, on this point, I expect a statement from the two other institutions – the negotiations to involve our American partners, so that we can verify the conditions under which the data transmitted by SWIFT are transmitted to the US administration."@en1

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