Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-009"

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"Madam President, on behalf of the European People’s Party, I would like to say that we are very pleased with the agreement reached on a system for European banking supervision. That is an important milestone. A number of Member States initially dug their heels in, but our rapporteurs have been steadfast and, thanks to a persuasive Commissioner and the Belgian Presidency’s firm line, we were able to secure this result. Another positive result has been the introduction of the European Semester. Both are important steps towards strengthening economic governance in Europe. In the ECOFIN Council, you have also debated various forms of bank taxes, because banks, too, must contribute to dealing with the impact of the crisis. You have rightly tried to achieve this at G20 level, but with little progress. For this reason, the EPP Group agrees with the conclusion that, if we fail to achieve this internationally, then we in Europe can – no, must – take the lead by introducing a bank tax or a bank levy. However, we must do this in a coordinated fashion, because Member States are already introducing such levies themselves and that is posing a threat to our internal market. Therefore, Commissioner Barnier, I would strongly encourage you to use your right of initiative to bring about a coordinated bank levy across Europe, one that will be introduced according to the same criteria in every country. In this matter, just as in the matter of European supervision, this House will rally to your side. When it comes to the financial transaction tax, now, that is an excellent item which you will have to work hard to place much more prominently on the G20 agenda. However, one thing I would warn you against is Europe going solo. I know that my fellow Member, Mr Schulz, would like to enforce such a transaction tax in Europe, but its disadvantages would outweigh the advantages, because we are dealing with a global system. Such a tax would lead to transactions bypassing Europe. We should, therefore, put our efforts into introducing a successful European bank tax and continue to operate in the G20 context."@en1
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