Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-089"

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"en.20100922.4.3-089"2
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"Madam President, I would like to add my voice to the congratulations on the compromise obtained by the European Parliament as regards financial supervision. It is a very satisfactory result, not because this House stood up to representatives of the States. This compromise is really good because it is meaningful. We had to give the package a more European tone for the sake of its effectiveness and credibility. The reason why Mrs Goulard and I – as shadow rapporteur of my group – fought so hard to ensure that the President of the European Central Bank should automatically be the President of the European Systemic Risk Board is because we are fully aware of the significance of this issue. In a landscape that will remain very fragmented between national authorities, we need a European body that is strengthened by indisputable competence and legitimacy. Perhaps even the British understand that! By virtue of his authority and prestige, the President of the ECB will be able to impose the authority of the European Systemic Risk Board when faced with its numerous negotiating partners – in the first instance, the Council of Ministers. Ultimately, it is not excessive power that we should fear; rather, it is excessive weakness that we had to fight, and finally, I would like all the authorities to settle in as quickly as possible and for a climate of confidence to be established between all partners concerned. The bet has not been won. Once again, the European Union was slow to move, but in the end we are laying the interesting foundations for a model that is expected to evolve in the coming years."@en1
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