Verbatim report of proceedings - Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)

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Verbatim report of proceedings
Tuesday, 6 July 2010 - Strasbourg	OJ edition

Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)

Janusz Władysław Zemke (S&D). – (PL) Madam President, thank you very much for giving me the floor. I would like to stress very strongly that what we are talking about, today, does not just concern the economy in individual Member States, but it concerns 500 million people.

It is very good that the Union is not passive in ensuring financial security. In this regard, the increased activity on the part of Parliament itself, the European Commission and the European Central Bank is worthy of note. I fully agree with the idea that we should support Member States in crisis situations, but ‘support’ does not mean ‘bail out’. Let us remember to link the responsibility of the Union to the responsibility of all Member States. Better supervision at European level is a very good idea, but we should also make greater demands in the area of supervision in individual Member States.

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