Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-091"
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"en.20100922.4.3-091"2
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"I welcome the shift from fragmented European economic supervision, dictated by decisions made at national level, to a uniform macro-prudential supervision system, which will enable the EU to speak with one voice. The European Union will be able to plan its macro-economic interventions carefully and will have available more suitable tools for preventing a possible financial crisis in the future.
However, it is unfortunate that Member States have disregarded the MEPs’ proposal to grant the newly created authorities direct power to supervise the major cross-border banks. We must bear in mind that these banks are one of the main sources of systemic risk.
I also regret that Member States have retained their right to oppose the decisions made by the European supervisory authorities, which could have too great an impact on national budgets. I think that the time for taking small steps is over. Europe’s future cannot be established by half-measures, but by total political commitment."@en1
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