Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-106"
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"en.20100922.4.3-106"2
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"The decision on the financial supervision package constitutes a truly crucial response, proof that the EU has understood at least some of the lessons of the crisis. The creation of the supervisory authorities is a major step towards European integration and the furthering of the single market.
Now, the implementation of this new architecture begins. It is true that the new supervisory authorities will act in a coordinated manner, together with the national supervisory bodies, and not by replacing them. But it is equally true that the fragmented response of the Member States during the financial crisis prevented the EU from showing more efficiency, more coordination and more leadership.
So it is quite obvious to me that advisory powers and non-binding recommendations are not enough. Binding rules, harmonised application and coordinated supervision are needed for a more efficient single market. These are the requirements that have to be fulfilled by the new ESAs to constitute the institutional foundation of the new European financial supervision architecture. The same requirements are necessary to best serve the interests of European taxpayers."@en1
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| lpv:unclassifiedMetadata |
"Winkler, Iuliu (PPE ),"1
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Named graphs describing this resource:
The resource appears as object in 2 triples