Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-01-19-Speech-2-280-000"

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"Mr President, this report on competition policy contains many positive suggestions, and these include the issue of state aid in the financial sector, which can lead to the distortion of competition in this sector. Crucially, I agree with the statement in the report which says that ‘care must be taken to ensure that regulation does not distort competition to the benefit of large banks’. Indeed, in Ireland we have a situation in which, since the beginning of January this year there have been limits on the deposits that can be placed in credit unions. Credit unions are not-for-profit, member-owned financial institutions. A cap of EUR 100 000 is in place for those who want to invest in credit unions. Nonetheless, I believe the effect will be to freeze credit unions out of the mortgage market and limit their ability to compete on a level playing field. This, I believe, is anti-competitive, and such regulation is in conflict with EU competition policy. Finally, I welcome and strongly support the call for binding action in the food supply chain against retailers harming farmers and consumers. This is long overdue."@en1

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