Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-415-500"
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"en.20120704.25.3-415-500"2
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"Freedom of movement is the fundamental freedom that our citizens enjoy. Access to basic banking services is therefore of the utmost importance. The greatest problem is the fact that banks deprive consumers who are of less economic interest to them – in other words, those who earn less – of many product options. The smooth functioning of the single market is also hindered by banks’ mistrust of those who are not resident in the country in which they wish to open an account. Despite the above, one must consider that all consumers are entitled not to have a payment account or a basic payment account, and to conduct their business in cash, and those people should not be discriminated against. I do not concur with the opinion of the Committee on the Internal Market and Consumer Protection that using cash is always more expensive for the consumer. On the contrary – various service providers have to pay banks quite high service charges (this is also the case in my home country, Estonia), and this is reflected in the price, making payment by card or bank transfer more costly. It is important to improve supervision over financial services to ensure that banks do not engage in ‘usury’, thereby hindering economic development or increasing the black market’s role in the economy. Europe needs a socially responsible banking sector. I supported the report."@en1
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