3 Amendments of Philippe DE BACKER related to 2012/2151(INI)
Amendment 149 #
Motion for a resolution
Recital V a (new)
Recital V a (new)
V a. whereas it is paramount for a return to growth that the internal market is being completed; whereas the Commission as the guardian of the Treaties needs to step up its efforts to enforce implementation of and compliance with existing internal market legislation; whereas for the proper functioning of the internal market it is necessary that market integration rules will be based more on regulations and not on directives;
Amendment 278 #
Motion for a resolution
Recital AT a (new)
Recital AT a (new)
ATa. whereas the report of the High-Level Group on Financial Supervision chaired by Jacques de Larosière, submitted to the President of the Commission on 25 February 2009, explicitly recommended that the ECB should not be responsible for micro-prudential supervision;
Amendment 279 #
Motion for a resolution
Recital AT b (new)
Recital AT b (new)
ATb. whereas the following main reasons why de Larosière report states that the ECB should not be responsible for micro- prudential supervision should be taken seriously: - the ECB's fundamental mandate is monetary stability; - jeopardising the ECB's independence due to political pressure and interference in case of a crisis; - a number of ECB/ESCB members have no competence in terms of supervision; - conferring responsibilities to the ECB/Eurosystem would not provide for a comprehensive, integrated system of supervision; - the ECB is not entitled by the Treaty to deal with insurance companies, which can pose a major problem for financial stability;