Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-04-19-Speech-1-071"

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". Mr President, I believe that this directive is necessary. If one thing is clear it is that Directive 87/102/EEC no longer reflects the situation in the credit market. We could say that all we Europeans are currently plagued by debt. We therefore need a directive which prevents the impression being given, when consumers are offered credit, that we never have to return the money, for two reasons which I believe to be fundamental: firstly, in order to harmonise the conditions in which consumer credit is offered and, above all – and this, incidentally, is a proposal by the Group of the Party of European Socialists – in order to guarantee consumers a high level of protection. I regret that I do not have sufficient time to comment to the Commissioner on the amendments we consider essential in order to fulfil these two objectives at least. I do hope, however, that some of my fellow Members can do so, because consumers must be protected in an age when it appears that credit is never going to be repaid. We citizens do have to repay what we owe, but our debts are more than we can afford."@en1

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