Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-03-11-Speech-2-313"

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"en.20080311.32.2-313"2
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"Madam President, the Lamfalussy Process was created so that Community legislation on financial matters could respond quickly and flexibly to developments in the market and in order to encourage convergence of supervisory practices. Its activities, on all four levels, have enabled the actions of the institutions and the supervisory authorities in the European Union to be better coordinated. We need to go further. In order to increase its legitimacy, quality and coherence we need to continue to reinforce the principles of better regulation and democratic scrutiny, improving the integration of its levels and promoting greater inter-sectoral convergence in order to avoid arbitrage. A European perspective and new steps are essential for responding to these needs and especially for adequately tackling the supervision of cross-border groups and moving forward with the prevention and management of international crises."@en1

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