Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-405-000"
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"en.20120912.22.3-405-000"2
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"Mr President, Commissioner, thank you for providing this information; I followed your speech very attentively, and it seems to me that the banks of non-euro-area Member States are intended to be left out of this common supervision. Of course as you yourself have mentioned, the system is open to all Member States. My question is how is it open? It does not confer any rights, yet it immediately imposes obligations on the entrant without offering any protection. If a country does not join, it might be that it will not receive any information, meaning that it could be left out of everything. However, regardless of whether a country joins or not, if it is a non-euro-area country it will not have access to the ESM, meaning, Commissioner, that it can rely on its own strength alone. This means that financial institutions within the euro area will enjoy a greater degree of protection and security.
Let us ask ourselves this question, and I would like to hear your answer to it: do investors feel that their money is safer in banks within the euro area than in banks outside it? The answer is yes. Commissioner …"@en1
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