Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-09-Speech-4-281"
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"en.20081009.25.4-281"2
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"I voted in favour of this report, given the urgency of the financial situation hitting the EU and other global financial markets.
This report is important because we need effective regulatory and supervisory arrangements to improve monitoring of the workings of the financial services market.
In particular, I welcome the oral amendment calling for a level playing field in terms of protection for EU citizens in relation to deposit protection. It is unfair that citizens in one Member State can avail of a higher level of protection in terms of sums on deposit – the range across Member States varies from EUR 20 000 to unlimited guarantees in Ireland.
I also welcome the call for a more coordinated response in the EU to the financial crisis and that divergences between the national regimes of Member States should be reduced to the greatest possible extent.
I would also call on the Irish Government to come forward with all the details of the Bank Guarantee Scheme and note that it has now been extended to non-Irish banks mindful of EU competition rules."@en1
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