Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-913"
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"en.20100707.23.3-913"2
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"I think that in the context of the crisis, where there have been failures of supervision, the European authorities on banking, financial markets and insurance and occupational pensions can prevent the problems that we are currently experiencing from recurring. These authorities must have powers that allow for more effective and efficient supervision, especially at the level of entities and situations that involve cross-border activity and where the consequences of this may prove detrimental to the entire European internal market, investors and consumers. However, I believe that national authorities must continue to play a key role in relation to national financial institutions, coordinating their efforts with their counterparts from other Member States, particularly as regards the exchange of best practices. Also following the Commission’s proposal on the financial supervision package, and for reasons of consistency in EU law, the respective amendments to the directives currently in force which are affected by these new measures need to be made."@en1
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