Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-252"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20100922.20.3-252"2
lpv:hasSubsequent	lp_eu:2010-09-22-Speech-3-2532
lpv:speaker	lp:Aldo Patriciello2
lpv:spokenAs	member; CONT (2009-07-16--2012-01-18)3 member; ITRE (2009-07-16--2012-01-18)3 substitute; REGI (2009-07-16--2012-01-18)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 substitute; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 unknown; Il Popolo della Libertà (2009-07-14--2013-12-05)3 member; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3
lpv:translated text	"The EU is creating a framework for safeguarding financial stability. In order to avert the risk of new and serious financial crises, Europe requires an institutional framework for dealing with the insolvency of important financial institutions in the system. A new macro-prudential supervisory authority, the European Systemic Risk Board (ESRB), and a new micro-prudential supervisory authority, the European System of Financial Supervisors, will be created. Their effectiveness is guaranteed by the authority of the ECB, since the new ESRB will not be able to impose measures or sanctions on Member States or financial institutions and its recommendations will not be binding. Consequently, their effectiveness depends on the considerable reputation of the ECB and the recognised expertise of its staff. The main aim of the supervisory architecture is to prevent dramatic situations such as the crisis we are currently experiencing from happening in future and to guarantee financial stability. The mainstay of the success of the new financial market regulatory and supervisory policy will be precisely the interconnection between micro- and macro-supervision. In this way, the secretariat of the ESRB will play an important role in guaranteeing efficient, rapid exchange of the data concerned."@en1

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