Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-891"
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"en.20100922.20.3-891"2
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"The need to ensure conditions for stronger and more effective European supervision of financial markets has resulted in a strong commitment from Parliament, which has become more evident and more appreciated as the current economic and financial crisis has progressed. A surveillance system at national level, based on the individualistic perspective of each Member State, has proved increasingly inoperable and unreliable given the global coverage of financial markets, which are becoming increasingly integrated with one another as they develop. I therefore support this proposal for a legislative resolution by Parliament. Adequately equipped with technical support and making use of the capacity and resources of the European Central Bank, the European Systemic Risk Board will undoubtedly have a decisive role in enabling the EU to act earlier and more rapidly by analysing information about system trends and identifying possible risks. This will be essential in preventing new crises, or, if they are inevitable, mitigating their negative impact and quickly finding ways to reverse the trend."@en1
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