Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-381-000"
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"en.20120912.22.3-381-000"2
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"Mr President, Commissioner, I basically welcome your initiative for common banking supervision in Europe. I believe that is necessary. I have a couple of questions, however. The European landscape, the EU, is dotted with a wide variety of banks: savings banks, cooperative banks, private banks, big banks. I believe that we must maintain and protect this variety, even with European supervision. I believe this is very important because many of the small banks were stable throughout the crisis and should not be sent to the wall.
Secondly, I would like to say that I do not believe that supervision alone will be enough. The supervisory body must also have effective instruments to enable it to intervene in the market as necessary, even removing toxic products from the market as required.
Thirdly, and lastly, however good a bank supervisory body may be, it can still do little, with the legal situation as it currently is, with regard to the shadow bank sector. This means that we still need to remain aware of the fact that only part of the problem will be resolved with such bank supervision. The problem of the shadow banks will remain."@en1
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