Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-23-Speech-2-106-000"
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"en.20121023.5.2-106-000"2
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"Mr President, how many really understand the implications of the single supervisor? It looks to me like banking union ‘lite’ – getting the taste without the commitment. But, like monetary union, the ‘lite’ version will tie Member States together with de facto mutualisation in the event of systemic failures. Of course, we hope that stays theoretical, but citizens should know. Meanwhile, to avoid mutualisation, the ESM is out and recapitalising Spain’s current bank debt is out. Bond buying is linked to other conditionality. So what is the hurry? Is it a question of pushing through a good news story before the citizens get to understand it or before Parliament finds a better way, leaving the substance to never never?
We are working to this mad timetable, but I see this as ‘legislate in haste and repent at leisure’ when a few months more could actually deliver the real deal. For all the gung-ho about banking union, I see no sign of it in CRD IV, which is still an exemption fest. Is it the intention for the ECB to stop all that? I think we should know and we should know up front.
Finally, on women in the ECB, we need more than talk that falls short of promises. That is no different from all the promises on gender equality that have so universally failed."@en1
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