Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-23-Speech-1-085"

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"I would like to stress the importance of this Directive's applicability not just to Eurozone countries, but also to countries still using, for the moment, currencies other than the euro. This is important because in this way the financial markets of those countries will also be modernised. I would like to thank the rapporteur for his excellent work. Many problems associated with the implementation of this Directive have been outlined here today. I would also like to state, as did the rapporteur, that this document is very technical in nature. We still need to have several things clarified; most importantly – the supervision of the payment directive implementation, given that large banking and finance groups are operating. Who will be responsible? Even though the Directive appears to define this, there are nevertheless many uncertainties still present. Another important issue requiring attention is supervision of non-banking finance institutions, which is truly necessary and welcome. However, differentiation can sometimes be an offset to supervision, and it can cost more than the operations themselves in small countries."@en1

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