Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-23-Speech-3-061"

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"en.20100623.9.3-061"2
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"The current financial crisis has demonstrated that without sufficient regulation, the activities of the financial sector can have serious consequences. I strongly support the decision taken at the European Council to introduce a system of taxation and supervision of financial institutions designed to induce them to limit their inherent systemic risk. In this way, the effects of speculation will be reduced, the sector will be made more transparent and more stable, and we shall eradicate the shoots of similar crises in the future. I also believe that the financial institutions must accept their share of the responsibility for the outbreak of the crisis and play their part in helping to overcome its consequences. It is in the EU’s interests to promote stability, transparency, reliability and responsibility in this sector, and the EU Member States must continue to make joint and coordinated progress on this front. I welcome the European Council’s decision to open accession negotiations with Iceland and I hope that they will be constructive and successful. Iceland has long been a member of the European Free Trade Association and a stable partner for the EU, and its accession would be a step in the right direction. I also welcome the decision to introduce the euro in Estonia from the beginning of next year. Despite the grave global economic situation, Estonia has been able to fulfil all the convergence criteria. Introduction of the euro will not only give a positive signal to those countries that are working towards introduction of the common currency in the near future, but will also be a sign of the viability of the euro area as a whole."@en1

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