Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-313-750"

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"en.20121120.28.2-313-750"2
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". This report examines the implementation of the Consumer Credit Directive adopted in 2008. The Directive has two objectives: guaranteeing a high level of consumer protection and introducing a common legal framework for cross-border consumer credit agreements. It is therefore a matter of opening up national markets and promoting cross-border consumer credit in order to strengthen the internal market; we are against that on principle and because of the profound negative consequences for the Portuguese economy. However, there are also positive aspects to consider, in particular the reference to the problems relating to consumer protection, such as the lack of information, SMS loans, the lack of consumer protection and the need for strict monitoring of advertising and marketing practices. Thus, although the opening up of the credit market is a bad thing, since it will inevitably tend towards monopolisation of the financial market, we can only agree with some of the warnings sounded about consumer protection."@en1

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