Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-07-Speech-4-342"
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"en.20101007.29.4-342"2
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"Adoption of the EU financial supervision package in September involved, in particular, the creation of bodies and mechanisms for micro-prudential supervision in the banking area, in coordination with the network of national supervisors. The own-initiative report on which we voted today focuses on a subject that I believe somehow falls within this new architecture and which I consider decisive for any economy. Defining the quantity and quality of own funds is certainly a matter of great sensitivity which needs to be analysed in terms of its impact – particularly on Europe’s economic recovery – and its general context. Since our businesses are financed primarily by the banking sector, which is one of the pillars of the economy, it is crucial in my view that the banks should manage their risks and profits within a long-term prudential perspective. Moreover, I believe these concerns should be discussed proactively and in terms of transatlantic cooperation. I voted in favour of this report since I agree with its overall content, which I see as one more step towards establishing new Union mechanisms for planning, coordination and supervision in the economic, budgetary and social spheres of the EU."@en1
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