Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-06-12-Speech-3-299"
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"en.20020612.8.3-299"2
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"Madam President, Commissioner, I am replacing Mrs Riis-Jørgensen, who has other important commitments this evening.
To begin with, I wish to thank Commissioner Bolkestein who has once again presented a well-balanced proposal for completing the internal market, this time within the field of financial services. I also want to thank the rapporteur, Mr Berenguer Fuster, for a sound piece of work, from the first reading to today’s second and very rapid reading.
It is gratifying that the Council is, for the most part, adopting Parliament’s position from the first reading. This proposal will make it possible to make cross-border offers of insurance while providing a high degree of consumer protection. There is a good balance between a freer market, benefiting consumers by offering them more choice, better competition and lower prices, and the requirements governing the protection of policyholders.
The fact that this balance between the market and consumer protection has, in the end, been established at the right level and feels reasonable is incredibly important for an increasingly cross-border market. It is basically a question of confidence, which is something we are seeing right now in the financial markets.
The regulations must be designed in a way that creates confidence in those who constitute the market, that is to say the consumers. As Dr Tannock stated, it is not a question of harmonising all the regulations but, rather, of finding methods of achieving a mutual acceptance of current rules in the various Member States. I believe that is a wise approach.
In general, those of us in the Group of the European Liberal, Democrat and Reform Party assent to most of the amendments, even though we question the wisdom of adopting a number of them. Allow me to mention the most important amendment which, in important respects, alters the whole proposal. In common with Mr Berenguer Fuster, I am talking about the second amendment, which we cannot accept. It would be unfair to consumers and their demand for security. It would also be in danger of distorting competition. We shall therefore vote against this amendment."@en1
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