Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-011"
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"en.20100908.3.3-011"2
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"Madam President, I should like to thank the Commission and the Belgian Presidency for having helped us get EU financial supervision on track.
I know we are now thanking one another but I should like nonetheless to emphasise that it was fortunate that Parliament pointed out, last December, how the Member States, while claiming they wanted to resolve the crisis using European solutions, were busy implementing every safety net and every safeguard clause imaginable to ensure that these European authorities could definitely not act without intergovernmental agreements. I think that we have all worked very well together, but let us give praise where praise is due.
As rapporteur for the Systemic Risk Board, I should like to highlight in particular one extremely positive point. Mr Barnier frequently refers to radars and control towers, but each aircraft also has a pilot, and that pilot is the President of the European Central Bank, whom Parliament is very keen to see remain in that role.
However, I should like to express a slight feeling of dissatisfaction with regard to the direct supervision of pan-European entities and, above all, ask you to continue the fight in that regard. In the sectoral texts, we must continue – as the four main groups in Parliament have jointly undertaken to do – to provide the EU Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) with powers over these entities, over the rating agencies. This is theoretically already happening, and we are waiting for the Commission to continue its work and to extend it to clearing houses and, eventually, to cross-border groups. The challenge in this area was simple: we could either have an internal market subject to EU regulation and supervision, or settle for loose coordination, which would mean quibbling – or
as we say under the Belgian Presidency – between nation states."@en1
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"chipotage"1
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