Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-904"

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"en.20100922.20.3-904"2
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"A European Banking Authority will consolidate the effectiveness of the thorough reform of the current supervision system for the financial markets, in which the EU institutions are now engaged. This will ensure a structural basis for interventions with sufficient powers to avoid a repetition of this latest global financial crisis, which would be unbearable for society and the global economy. In fact, accepting a supervisory system based on the efforts of the national authorities is completely inappropriate, as their jurisdiction ends at their borders while market players are financial institutions whose activities take place across the borderless European area. I must therefore praise the rapporteur’s attention to the importance of small and medium-sized enterprises and the European perspective of the proposal."@en1

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