Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-382-000"
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"en.20120912.22.3-382-000"2
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"Mr President, there is still a persistent lack of trust in our banking sector and it is SMEs that are bearing the brunt of this, because they are having difficulties borrowing money. And that is the very thing that is crucial for growth and jobs. I wish to compliment Commissioner Barnier on the proposals he has tabled today. The direction he has taken is good because it means giving intervention powers to the ECB. However, we have to see how well this will be organised.
We now need to focus on certain considerations. We must not distort the internal market, but strengthen it. That means a strong role for the EBA as guardian of the simple European ‘rulebook’. But, how will this work in the future? Will it be revoked by the ECB with additional capital or liquidity requirements? What is the connection between the two? In addition, we need to expand banking supervision as soon as possible to as many banks as possible in the Member States.
Therein lies my second point of concern. Because, despite what you said, a wall is likely to be erected between banks in the countries within the euro area and those outside it. There, too, there are banks that have been infected by the crisis virus and there, too, there are many countries, such as Poland, Hungary and others that would like to join. We need to deal with that seriously because, ultimately, we want stability throughout the whole of the European Union.
Some countries have already tried to take the edge off the proposals. But, we need to
those proposals and, to do that, we need Parliament! This was the case when it came to the establishment of the European supervisory authorities. This was the case when it came to decision making for the six-pack for economic governance. We must also strengthen our co-legislative role for proposals for which we have advisory powers. We have proved that with the six-pack, too.
With this package, we want to create the momentum to make it as robust as possible for a stronger Europe."@en1
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"strengthen"1
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