Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-225"

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"en.20100922.20.3-225"2
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"If there is one thing that we have all learnt from the recent crisis, irrespective of our political convictions or worldviews, it is the need to reform the institutional supervision structure by creating European bodies and, in so doing, to rethink the whole concept of macro- and micro-economic supervision. There are countless positive points to the agreement that we have achieved and which is being put to the vote today. One of them is the creation of independent European bodies to supervise the banks, insurance companies and financial markets. These bodies will not replace the national supervisory bodies, but will work with them, seeking to carry out their mandate of prudential supervision and systemic risk analysis, so as to prevent the European banking sector and financial markets from being hit by another crisis of similar proportions to the one we have been facing. As I have had occasion to say countless times before, I personally am not afraid of having European supervisory authorities. I consider it essential for them to be able to carry out their mandates both independently and competently, so as to strengthen the confidence of the markets and their players, particularly in the insurance and pensions sector in this case."@en1

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