Amendment to Regulation(EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority)

Type: News   Reference: 88808   Duration: 00:02:48  Lieu: Brussels, Belgium - EP
End production: 29/11/2012   First transmission: 29/11/2012
Banking supervision powers transferred to the EU level must be matched by measures that subject them to democratic scrutiny, said Economic and Monetary Affairs Committee MEPs on Thursday. They voted on plans to confer banking supervision powers on the ECB and ways to better integrate non-Eurozone countries into the new banking supervision system.

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TIME DESCRIPTION DURATION
00:00:00 TITLE 00:00:05
00:00:05 Exterior shot 00:00:05
00:00:10 ECON Committee voting on the GIEGOLD report (13 shots) 00:01:12
00:01:22 SOUNDBITE Sven GIEGOLD, Greens/EFA, Germany (in English): The Parliament can now negotiate with the Council over the improvements we agreed as elected parliamentarians rather than simply accepting what comes out of the Council. And this is what our voters expect first of all. 00:00:15
00:01:37 SOUNDBITE Sven GIEGOLD, Greens/EFA, Germany (in English): The key question is, if we move to the banking union: how to safeguard the Common Market, which consists of 27 countries and not only the Eurozone. So, the key issue was: how to make possible that the Eurozone and its partner countries integrate banking supervision without splitting the Common Market. For this, we created a common supervisory handbook, common supervisory rules and voting mechanisms which make it acceptable to all member states. 00:00:33
00:02:10 SOUNDBITE Sven GIEGOLD, Greens/EFA, Germany (in English): The banking union can only be created if there is a consent of the Parliament with full codecision rights on the reform of the European banking authority. This is what we voted today and therefore we will have now a strong mandate to negotiate with the Council the total package of the banking union. 00:00:20
00:02:30 SOUNDBITE Sven GIEGOLD, Greens/EFA, Germany (in English): The end of the road is hopefully that we get a strong European banking supervisor which will help us to get out of the euro crisis, which is under strong democratic responsibility. And at the same time, safeguard the useful diversity in the Common Market. 00:00:18
00:02:48 END 00:00:00
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