Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-01-19-Speech-2-408-000"
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"en.20160119.21.2-408-000"2
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"I voted for this report due to the fact the financial crisis of 2007-2008 and its widespread negative impact were caused, inter alia, by a lack of application of appropriate, high-quality financial services regulation for increasingly complex markets and products. In recent years an ambitious reform agenda for the EU financial sector has been launched to strengthen financial regulation and supervision, restore financial stability and make the financial system more resilient to shocks, limit risks to taxpayers and better serve the needs of investors and the funding needs of the real economy. While the outlook for growth in Europe has improved, full recovery has not yet been achieved. The capital market in the Union remains fragmented, whereas the Capital Markets Union (CMU) potentially offers a valuable framework to safeguard equal access to finance for SMEs throughout the EU and to promote innovative venues for market-based funding. There are nevertheless still specific shortages of credit to SMEs and micro-enterprises deriving also from economic instability and a lack of targeted solutions for the real economy. The capital-market-based context in the United States is often cited, but fundamentally differs from the banking-based EU context, and should not be copied or used as a template."@en1
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