Joint debate - Banking union - single supervisory mechanism :
Lieu: Strasbourg, France - European Parliament
End production: 21/05/2013 First transmission: 21/05/2013
- MEPs debate
The European Union Single banking Supervision Mechanism was debated today in plenary session. MEPs took advantage of the debate to stress that accountability rules must match the supervisory powers created or transferred to EU level to the ECB. The ECB, in its supervisory role, will therefore have to be much more open and accountable than for its monetary policy ones.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior shot of the European Parliament, Strasbourg, France (1 shot)
||SOUNDBITE (German): Burkhard BALZ, (EPP, DE): "When it comes to supervision of medium and smaller sized banks we need a balanced and workable solution to get an efficient but not duplicate reporting and monitoring. The ECB policies set a great deal of confidence in the ECB and we say confidence is good but control is better."
||SOUNDBITE (French): Sylvie GOULARD, (ALDE, FR): "We have got within the ECB to find a way of organising things so that we can make sure that the monetary activities on the one hand are properly separated from the financial activities on the other and I think this is doable but I think we should not attach too much importance to what is been said in one meeting, I don't think the ECB is really moving off courses, secondly we must make sure we don't further weaken the power of the European Banking Authorities, Sven Giegold said this, so I think it is a bit of a pity in an area where we got the internal market we have now introduced voting procedures which create clusters between certain states."
||SOUNDBITE (French): Philippe LAMBERTS (Verts/ALE, BE): "I'm outraged by the comments made by Mr Vitor Constancio and Mr Mersch for the ECB saying basically, 'Ladies and Gentlemen of the European Parliament, its not up to you, move on there is nothing to see'; that is the substance of their message and I think this is completely unacceptable and so I'm waiting for the final version of the inter-institutional agreement that we could achieve with them."
||SOUNDBITE (German): Wolf KLUTE, (GUE/NGL, DE): "There is a concentration of power which is difficult to accept in the ECB now, for that reason I can only support what previous speakers have said, it is certainly not acceptable that the ECB refuses any kind of democratic accountability, at least on the Banking Supervision part of its work, that is a minimum on which we should not cease to fight to get that as soon as possible, a clear agreement that between this House and the ECB about this necessary accountability."
||SOUNDBITE (German): Wolf KLINZ, (ALDE, DE): "I think we have to understand that a lot banks remain very fragile, we have seen a re-nationalisation over the last few years of the financial services market, but there are banking groups that are active internationally and there are not moving capital from country from another where the capital might be more urgently needed."
||SOUNDBITE (German): Wolf KLINZ, (ALDE, DE):"It is important for us that those members who are not Eurozone members can participate voluntarily. We have actually managed to that to ensure that they have the same rights and responsibilities, but what I do not like is these members that are not part of the Eurozone have the right to leave again after just 3 years, without giving any explanations."
||SOUNDIBTE (Dutch): Bas EICKHOUT, (Verts/ALE, NL):
"The important thing is that the Banking Union hasn't and will not be concluded with Supervision because I think we need consolidation with the Public powers and for struggling banks we need a fund and a system for deposit guarantees. Now it was mentioned by the German Finance Minister Schäuble in the Financial that we shouldn't be optimistic, but shouldn't be seen as an excuse for avoiding the measures which are needed for this Banking Union."
||Cut away shots, (3 shots)