Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-713-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-05-10"^^xsd:date2
dcterms:Is Part Of	lp_eu:Stress tests of the EU banking sector (debate)2
dcterms:Language	"nl"^^xsd:language2
lpv:document identification number	"en.20110510.68.2-713-000"2
lpv:hasSubsequent	lp_eu:2011-05-10-Speech-2-714-0002
lpv:speaker	lp:Corien Wortmann-kool2
lpv:spokenAs	unknown; Christen Democratisch Appèl (2009-07-14--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; Delegation for relations with the United States (2009-09-16--2014-06-30)3 vice-chair; EPP (2009-07-14--2014-06-30)3 substitute; TRAN (2009-07-16--2012-01-18)3 member; ECON (2009-07-16--2012-01-18)3 substitute; FEMM (2009-07-16--2012-01-18)3
lpv:translated text	"Mr President, the Group of the European People’s Party (Christian Democrats) has concerns about the European banking sector stress test which is to take place in June, because last year’s stress test lacked credibility and the consequences of that were painfully obvious when the Irish banks that passed the test landed in serious trouble shortly thereafter. We need to ensure that the same thing does not happen this year. The question is whether our financial sector is equipped to cope with severe weather. This knowledge is important, if we are to restore confidence in the financial sector. Hence my question to the Commissioner: what are the most important changes that have been made to ensure that, this year, there is no repeat of the failure of last year’s stress test? Mr President, last year individual countries were able to decide which banks would undergo the stress test, but this year the newly-established European Banking Authority has been charged with ensuring equal criteria for every bank and for every Member State. This stress test will be a test, not only of the banks, but also of the credibility of the new supervision structure. Is the Commission happy with the fact that, while in some countries the stress test will cover 85% of the banking sectors, in others it will cover barely more than 50%? Now, that is a rather remarkable statistic, and I am curious to hear your explanation of this point. Mr President, we need a robust European crisis resolution mechanism for cross-border banks and while, by obtaining the results of the stress test as early as June, we might be helping banks in difficulty, we will be missing an opportunity, in that we will still not have a European crisis resolution mechanism in place. The PPE Group encourages you to come up with ambitious proposals and you will be able to count on our support here in Parliament."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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