Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-10-24-Speech-3-493"

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"Madam President, the problem of effective enforcement of monetary claims across the territory of the European Union is very important in terms of ensuring proper functioning of the internal market. It is worth considering Community action in this regard. There is a very important saying that was impressed on me when I was a trainee lawyer, according to which when we do someone a favour we become indebted to them. This is sometimes true. Delaying payments or failing to make them altogether endangers the interests of companies and consumers alike. The differences in the efficiency of debt recovery that currently exist within the European Union can threaten the competitiveness of companies whose activities extend beyond the borders of a particular Member State. The systems for enforcing orders differ between individual Member States. In some states they are more effective than in others. As things stand at present, a debtor may almost instantly transfer funds from accounts known to the creditor to other accounts located in the same country or in another Member State. This makes it practically impossible for creditors to block those funds. Furthermore, creditors seeking enforcement of an order in another Member State are confronted with a different legal system and procedural requirements. The language barrier and cost of the proceedings represent additional obstacles. I therefore believe that we should respond positively to the proposal to create a European system to attach bank accounts. Bearing in mind the increasing integration in the Single Euro Payments Area, legal regulation of this type is both appropriate and essential. I would like to thank Mr Lechner for this report. I am sure it will represent a turning point in the Union’s legal system."@en1

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