Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-05-Speech-4-299"

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"Mr President, ladies and gentlemen, as the rapporteur quite rightly points out, for there to be a market, there must be supply and demand. That does not seem to be the case for a cross-border retail financial services market, however. The report is in fact based on the premise that allowing the supply is bound to encourage the demand. Even though we all might like to benefit from cheaper credit or more profitable investments, it is unlikely that tomorrow an Italian will go to a Danish or Cypriot bank to get a loan to buy his house or his car. We all know why: linguistic problems, justified apprehension about the risks, uncertainty about the tax arrangements, etc. The rapporteur, who highlights the importance of the aspects of trust, proximity and personal relations for the consumer, is under no illusions. This desire to artificially create such a market does not manage to conceal one of the main aims of the manoeuvre: forcing the states to harmonise their taxes and regulations so as to be prepared for all contingencies or imposing a 28 legal order, a supranational order, accompanied, for good measure, by the adoption of the euro by the countries that rejected it, thereby enabling them to participate fully in this hypothetical market. We cannot support these proposals."@en1
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