Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-387"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-07-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20100706.28.2-387"2
lpv:hasSubsequent	lp_eu:2010-07-06-Speech-2-3882
lpv:speaker	lp:Raffaele Baldassarre2
lpv:spokenAs	member; EPP (2009-07-14--2014-02-06)3 member; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2014-06-30)3 substitute; EMPL (2009-11-25--2012-01-18)3 unknown; Il Popolo della Libertà (2009-07-14--2013-12-05)3 vice-chair; JURI (2009-09-14--2012-01-18)3 substitute; Delegation for relations with the United States (2009-09-16--2014-06-30)3
lpv:translated text	"Madam President, Commissioner, ladies and gentlemen, the crisis has confronted us with the evidence that greater coordination at European level is an absolute priority for the development and stability of the financial markets. That said, I shall limit myself here to highlighting one fundamental issue, particularly in the light of the difficult trialogues still ongoing. If giving financial oversight authorities the power to adopt individual, directly binding decisions – as provided for in Article 10 of the regulations – responds to the political desire to react quickly to emergency situations, then in the case of daily supervision, this power conflicts with Articles 17 and 258 of the treaty, which state that it is the exclusive power of the Commission to ensure the application of the law of the Union. Furthermore, in this case, a paradoxical situation would be created in which the Member States, present in the highest body through their own authorities, would be indirectly responsible for applying the law of the Union. As rapporteur for the opinion of the Committee on Legal Affairs, I proposed a compromise amendment which attempts to resolve this discrepancy between the powers conferred on the authorities and the role and competences of the Commission, in full compliance with the treaty. I hope that the contribution of the Legal Affairs Committee can be used as a basis for any further compromises with the other European institutions in order to arrive swiftly at a much needed solution, which is completely in accordance with the law of the Union."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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