|
Speech given at Arendt Medernach on 24 February 2016
At first sight, the set of regulations under examination today indeed looks like a tsunami. However, it is not actually a meteorological accident. It has to be seen in the context of an overarching effort to make the European financial system safer, more transparent and more protective of its clients. That is why these legislative texts share some common goals.
For example, apart from the Payment Services Directive II (Directive 2015/2366) and the Insurance Distribution Directive II (Directive 2016/ 97), all the texts under review aim at increasing financial stability, though in different ways.
Moreover, the Deposit Guarantee Schemes Directive (Directive 2014/49), Bank...
|