Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-03-Speech-3-345"
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"en.20011003.11.3-345"2
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"Mr President, I too congratulate the rapporteur on the report which he will present to us tomorrow. We know he has worked extremely hard on this report and very closely with others in this Chamber to ensure its success.
Clearly the changing industry of financial services lends itself very well to the new technologies which have emerged and continue to emerge across the world. The ability of consumers, confusing as it can be, to pick such technologies, to choose a variety of financial services within the individual Member States, has been with us now for some little time. But the choice of financial products across borders inside Europe is even more recent an affair. This means that services, rather than physical products – and the rights of consumers to have confidence in the performance of those services – is as vital here as it is for manufactured products. The marketing and advertising of services, the claims and boasts of providers, must be checked against the need to allay the fears of risk to consumers, to safeguard their purchases and exchanges by electronic means. This is why my group has so high a regard for the element of consumer safety.
The country-of-origin principle is simply the best agreed way of approaching the process of harmonising the standards for attaining an EU-wide application of the guidance for those standards which are to be expected in those nations. At the same time Brussels, too, is clearly more than just an element for consideration by the Commission in this process. The amendments before the House allow for the flexibility required to pursue the exciting new medium of technology, as does the text.
In particular I would like to recognise Mr Herzog's concerns, where he rightly points out in his amendments that we need to keep pace with technological change in order to reduce the possibility of criminality, of fraud and of money laundering. My group believes that so long as consumer interests can be asserted and maintained as an essential element of the provisions of this report, then it is obviously going to be willing to withdraw any amendments that might suggest derogations or deletions to the country- of-origin principle.
The liberation of
commerce is the element of any dynamic European economy of the future; the counterbalance that has to be struck and which has to be fully realised is the effects it has on those who would use it as consumers. I commend this report to the House."@en1
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