Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-080"
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"Thank you, Mr President. I wish to congratulate the rapporteurs and the groups’ shadow rapporteurs for the compromise that has been reached. Although many of us find a large number of the arguments far from ideal or beneficial, I think it is important that the regulation is drawn up right now, before the elections.
I would like to make a couple of remarks. 1. As the rapporteur responsible for microcredit, I welcome the fact that the report featured the requirement, which also appeared in my report, for a risk management system to be devised reflecting microcredit features, such as no traditional collateral and excess. I hope this will happen as soon as possible. I would like to thank Mrs Berès for her amendment to the proposal. 2. I was highly critical of the supervisory arrangements even during the debate on the 2005 amendment. This applies particularly to the supervision of parent institutions, which actually also raises constitutional concerns with regard to deployment in the country of the subsidiaries, although subsidiaries are generally located in the new Member States.
This vulnerability is reduced, if not actually stopped by the collegiate system which, in my view, is still only a step in the right direction, but not the real solution. Nevertheless, for the sake of compromise, I regard this situation as progress mainly because the current compromise also advocates that the draft regulation on the integrated supervisory system should be produced quickly based on the De Larosière material, which will already be good, in our opinion, as well as providing a very significant benefit for communitarisation.
I would like to say a special word of thanks for the solidarity shown to the countries outside the euro zone in connection with the amendment to Article 153(3) as, with the acceptance of my proposal, the separate risk premium will not apply until the end of 2015 to the credits for these countries, which they have generally received in euros from the public finances or central bank. Taking all these points into account, I propose block-voting on the compromise, including the 5% retention, since this in itself marks some measure of progress.
Finally, as this is my last speech, I would also like to thank you, Madam President, and all my fellow Members for the work which I have been able to do here for the last five years."@en1
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