Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-938"
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"en.20100922.20.3-938"2
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"The creation of a European financial supervision had been suggested in September 2009 by the European Commission, and was based on work carried out by the group chaired by Jacques de Larosière. From 1 January 2011, the Union will therefore have at its disposal a ‘control tower’ to identify financial risks, and will have ways to act if need be. This role will be entrusted to three new Supervisory Authorities for banks, financial markets and insurance and to the European Systemic Risk Board. I therefore voted in favour of this report because I believe the European Union needs a body specifically responsible for macro-prudential oversight of its financial system, able to identify risks to financial stability, and, where necessary, able to issue alerts and formulate recommendations to address such risks. Protecting the provision of public services, encouraging innovation, improving the financing of SMEs: these are the three objectives for ultimately achieving sustainable and fair growth."@en1
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