Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-390-000"
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"en.20120912.22.3-390-000"2
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"Mr President, ladies and gentlemen, I do not find this banking union convincing, because it seems to have no purpose other than to place a fine gravestone over any prospect of adopting the legal principles of the Glass-Steagall Act in Europe.
In that respect, how can we not share the concern expressed by Georg Fahrenschon, the president of the German savings banks association, for whom a banking union with centralised supervision in the hands of the European Central Bank (ECB) and a common deposit guarantee fund is like a life assurance policy for ‘systemic’ banks, in other words those banks – not all of them – whose bellies are full of derivative rubbish? We are all well aware of that, but nobody dares say it!
This solution will ensure that healthy banks, such as savings banks (not only the German ones but also the ones in Padania) and cooperative banks, which are close to the land, the people and the regions – you may recall the message given out yesterday by 2 million Catalans who want their freedom – will foot the bill so that the sick ones can continue to speculate.
I would like to ask a final question: every day, Mario Draghi, the President of the ECB, says that the euro is irreversible. I would like to know if any of you have found an article in the Treaties that allows him to decide which currency the Member States should adopt. I have not found one."@en1
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