Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-929"
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"en.20100922.20.3-929"2
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"I welcome the European Commission’s proposal to establish a new body called the European Systemic Risk Board (ESRB) in response to the financial, economic and social crisis that has swept across the European Union. The ESRB will operate under the auspices of the European Central Bank and will monitor and assess risks to the stability of the financial system as a whole. Additionally, the ESRB will also issue early warnings to Member States of systemic risks that may be building up and, where necessary, will make recommendations for action to deal with these risks. The heads of the European Central Bank, national central banks, the European supervisory authorities, and national supervisors, will all participate in the ESRB. Thus, the ESRB, through its macro-economic surveillance functions, will assist in the prevention of future crises."@en1
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