Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-943"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20100922.20.3-943"2
lpv:hasSubsequent	lp_eu:2010-09-22-Speech-3-9422
lpv:speaker	lp:Nuno Melo2
lpv:spokenAs	member_of_the_bureau; EPP (2009-07-14--2014-06-30)3 member; LIBE (2009-07-16--2012-01-18)3 vice-chair; Delegation for relations with the Mercosur countries (2009-09-30--2014-06-30)3 substitute; Delegation for relations with the Palestinian Legislative Council (2009-09-16--2014-06-30)3 substitute; DROI (2009-07-16--2012-01-18)3 unknown; Partido Popular (2009-07-14--2014-06-30)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2014-06-30)3
lpv:translated text	"The recent financial crisis has highlighted major weaknesses in financial supervision, both in individual cases and in relation to the financial system as a whole. Models of supervision have had a national perspective and have not adapted to the globalisation that has occurred within the financial system, in which various financial groups conduct their operations across borders, with the systemic risks that this entails. There has, therefore, been no cooperation, coordination or consistency whatsoever in the application of EU legislation. Hence, the aim of this directive is to improve the functioning of the internal market by ensuring a high level of supervision and prudential regulation, and by protecting depositors, investors and all beneficiaries. It is therefore crucial to safeguard the integrity, efficiency and smooth running of financial markets, to maintain the stability and sustainability of public finances, and to strengthen international coordination and cooperation in the field of supervision. The creation of a European authority for the insurance and occupational pensions sector is essential in order to achieve an effective supervision model, alongside many other monitoring mechanisms, to be decided on and implemented as a matter of true urgency."@en1

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