Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-16-Speech-3-191"
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"en.20080116.9.3-191"2
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".
A common legal framework for consumer credit must lay down clear, simple and concise rules, so as to offer European added value with the aim of promoting the internal market.
Today, therefore, I would like to congratulate Parliament for the positive agreement reached on this legislation. I regard the opening up of the national markets to consumer credit as very important since it will step up competition, with very positive consequences for consumers.
With this new proposal the EU is clearly favouring competition between financial institutions and is introducing the necessary transparency for the disclosure of pre-contractual and contractual information on the provision of credit, data which I regard as fundamental for consumer protection, and also possibly enabling interest rates to be reduced on account of the increased supply, especially on smaller markets.
The credit ceilings laid down under this agreement are also a very positive aspect for the Portuguese market. I am convinced that the new framework will facilitate more credit opportunities, as there is currently a need to ensure proper protection for consumers and their creditworthiness, preventing excessive exposure to debt, in the context of a healthy social policy. The advantages are to be benefited from and not for solving problems by creating new ones."@en1
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