Vice-President Barnier welcomes Court of Auditors’ special report: “European banking supervision taking shape – EBA and its changing context”
“I believe the European Banking Authority’s role in the overall supervisory architecture is crucial. (...) While the establishment of the Banking Union (...) will affect the functioning of the EBA, it does not call into question its existence.” Statement by Vice-President Barnier.
“Global derivatives markets need worldwide standards and national rules that work together seamlessly. (...) I intend to propose shortly that the European Commission adopt ‘equivalence’ decisions that will allow central counterparty clearing houses (CCPs) from five countries outside the EU – Japan, Singapore, Australia, Hong Kong and India – to clear EU derivatives trades”. Statement by Commissioner Barnier.
“The fight against all levels of excessive debt – by governments, households, businesses or the financial sector – was a major focus of this Commission’s mandate”. Speech by Commissioner Barnier at the IMF’s 14th Forum on managing public debt.
“We will not repair our economy by putting back barriers within the single market, or by playing France’s interests against the interests of other EU countries. True protection is not found in protectionism. It is found in investment and reform”. Speech by Commissioner Barnier at the “MEDEF Debates” (Movement of the Enterprises of France).
“The agreement in Council today represents an important step towards the adoption of stronger rules to combat money laundering and terrorist financing”. Statement by Commissioner Barnier.
"The EU and the US agree on the overall objectives of sound and resilient banks and financial markets. But we have and will keep different regulatory procedures and frameworks. We need to do more to make these regulatory systems work together". Speech by Commissioner Barnier at the Peterson Institute for International Economics, Washington.
“The relationship between the US and Europe cannot and must not be reduced to that of only a free trade area. It has to be a stronger political relationship”. Speech by Commissioner Barnier at the Center for Strategic and International Studies (CSIS), Washington.
“We have seen an unprecedented sequence of financial, economic, fiscal and social crises, which has highlighted clearly the limits of a having a primarily national response. (...) So we needed to work together, at European level, and this is what we have been doing since 2010, with a lot of energy and, I believe, positive results”. Speech by Commissioner Barnier at his hearing before the Finance Committee of the French Senate.
The Danish voted yesterday in a referendum in favour of joining the Unified Patent Court (UPC). Once the Danish Parliament ratifies the Agreement, Denmark will be the fifth Member State to have ratified it (after Austria, Belgium, France and Malta). The Agreement will enter into force once it has been ratified by 13 Member States.
"Europe's financial markets are too interlinked to be dealt with nationally. (…) So we need common rules and regulatory convergence, we need the EU. (…) The Banking Union is probably our biggest project since the euro itself." Speech by Commissioner Barnier at the Frankfurt Finance Summit.