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Verbatim report of proceedings
Wednesday, 7 July 2010 - Strasbourg OJ edition

Explanations of vote
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Text tabled : A7-0163/2010

  Alfredo Pallone (PPE), in writing. (IT) The financial crisis has revealed the existing holes in financial globalisation, financial integration in the EU and national supervision, in particular. The European Union's response to the crisis must be courageous. Financial services malfunctions and their considerable, harmful impact on the real economy and public finances are no longer tolerable. The European Union must supply answers in the form of micro-economic and macro-economic supervision, and handle both individual cases as well as general legislation. In this context, the main aims of the technical standards are the complete harmonisation of financial regulations and their consistent application through supervisory approaches and practices. Technical supervisory rules are necessary tools to achieve the harmonisation of supervision across Europe.

 
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