Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-403-000"
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"en.20120912.22.3-403-000"2
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"Mr President, Commissioner, thank you for all the competence, patience and vision that you have employed in performing your duties.
I should like to make some observations on your proposals. Firstly, I am surprised that the Council is not here, because it is the Council which really should have presented this proposal to us. It is in charge of this matter and not the Commission. It is up to the Council to make this proposal for a specific mission of the Central Bank relating to prudential supervision. I agree with some of my fellow Members: this legal basis does indeed have the merit of being efficient, but I do not think it meets our fellow citizens’ expectations, as they wanted regulation at European level. Furthermore, I am puzzled about Article 15 of the proposal, which lays down sanctions, while the legal basis, namely Article 127(6), only provides for prudential supervision. We are told that managers will be removed or fines imposed of up to 10% of turnover. I believe that we should have this point checked.
I would also like to draw your attention to the fact that, for approximately the last four years, the Committee on Budgetary Control has, under this legal basis, been calling for regulatory supervision of the European Investment Bank, and it would be worthwhile for this regulation to extend to cover public banks, and particularly public development banks.
Finally, I believe that, under Article 26 of the Treaty on the Functioning of the European Union, we could consider introducing a European policy on regulators, for, under this Article, the Union is entitled to adopt any measure it needs to ensure the proper functioning of the internal market – regulators for credit institutions, and also for insurance, which is not provided for under Article 127(6), and for energy and digital technology. In short, we must introduce a genuine regulatory policy for our European markets if we wish to achieve a genuine internal market."@en1
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