Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-080"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Financial supervision package (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20100922.4.3-080"2
lpv:hasSubsequent	lp_eu:2010-09-22-Speech-3-0812
lpv:speaker	lp:Kay Swinburne2
lpv:spoken text	"Madam President, the legacy of this financial crisis has been a cloud of uncertainty hanging over the financial services sector and our public finances. The banks, the financial markets, governments and corporations are feeling this uncertainty daily, and in order for our economies to show signs of recovery, we need to ensure that this uncertainty is dispelled. One of the main uncertainties since the spectacular failures in the financial sector has been uncertainty regarding regulation, including who will do the future regulating and which institutions will enforce them. This House has been instrumental in debating this issue and has, over the past few months, discussed the minutiae of regulation and supervision in terms of who, what, where and when. The result delivers balance: balance between Member States’ responsibility for supervising institutions and a new European authority setting a common rule book, thereby progressing the single market in financial services whilst elevating the role of peer oversight; balance between safety in the system as monitored by the new ESRB and the need for financial companies to take risks; balance between ultimate protection of the taxpayer and provision of capital to fuel the economy. We all have a strong interest in establishing new mechanisms to underpin the single market in financial services, including: the monitoring of global risk at our European Banks; ensuring a coordinated and ordered procedure across all Member States in a crisis; ensuring stronger arrangements for mediation between supervisors; and ensuring the enforcement of the rules in all financial centres and by all financial players. This supervisory package as it now stands delivers the balance required. However, the recruitment of high calibre, financially competent staff will be critical to its future success. I call upon the Commission to ensure that this next step works."@en1
lpv:spokenAs	member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2012-03-27)3 substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2009-09-16--2014-06-30)3 substitute; Delegation for relations with the Palestinian Legislative Council (2009-10-19--2014-06-30)3 unknown; Conservative Party (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member; PECH (2009-07-14--2014-06-30)3
lpv:unclassifiedMetadata	"Kay Swinburne,"1 "on behalf of the ECR Group."1
lpv:videoURI	<go to Events_and_structure europarl>2

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