Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-401-000"
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"en.20120912.22.3-401-000"2
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"Mr President, Commissioner, ladies and gentlemen, the proposal tabled by the Commission is logical and must be accepted. It makes the decisions reached at the June summit more credible because it provides more concrete information. We must now turn to the legislation. A common currency needs a common supervisory authority for all banks, a common budget and a common tax policy, a common banking, fiscal, economic and social union, as well as a political union as an objective. The banking union is a tiny element along the way in learning lessons from the crisis and providing answers to the common currency. We might say, why not act immediately? We called for this two years ago, but were blocked by the Council until the autumn of last year. Let us not start blocking the proposals in every detail once again instead of setting to work implementing them and realising the goals. No more blocking tactics!
Banking union is also linked with the CAT4 and Basel III tasks. Please help us to establish compatibility between the banking union and these proposals during this work. We need clarity between independent currency policy and the supervisory functions, between the European Banking Authority and the European Central Bank and between the current financial market regulations and the projects for the future. We have much to do. Let us not block our own work."@en1
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