Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-402"

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"en.20100706.28.2-402"2
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"Madam President, I confess that I find it difficult to follow my fellow Members who are so fond of flexing their muscles and claiming a monopoly of our legitimacy in relation to the other institutions of the Union. Unfortunately, they often take a ridiculous stance. However, when the members of this House, through work and conviction, put forward a well-argued position when we defend what would appear to be the general European interest, confronted with somewhat tense nations, then it is a different matter. In this debate on European supervision, Parliament has played this role. On the subject of the European Systemic Risk Board, for which I am the shadow rapporteur for my group, I, like the rapporteur, Mrs Goulard, defended an ambitious position. I advocated mechanisms which would ensure a certain amount of efficiency, and I emphasised the supremacy of the European Central Bank. Why is this? Because the European Central Bank is the only Community institution in this group, and because it has shown itself to be serious. Out of a spirit of Christian charity, I will not mention the names of all the institutions and all these great figures who suddenly disappeared during the storm. We can consider ourselves fortunate to have at least had a captain on board during the worst part of the crisis. I would therefore be reassured if tomorrow we see macro-prudential supervision attached to a strong Community institution, with micro-prudential surveillance necessarily remaining fragmented. In these troubled times, the European Systemic Risk Board must get to work as quickly as possible. The future will show if changes are necessary, but it is essential to start on a healthy basis, because systemic risks affect the entire European and worldwide banking sector."@en1
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