The banking supervision deal is a step toward a strengthened eurozone integration
Regarding the deal made last night in Brussels at the EcoFin Council on the banking supervision, Marielle de Sarnez, EDP Secretary-General, declared:
"This is a huge step toward a banking union and eurozone integration. I congratulate in particulary Commissionner Michel Barnier for his sustained efforts and his unfailing determination. The supervision by ECB of EU main financial houses first, then – I hope – of every European bank is at htis stage a pragmatic solution which strengthen the European financial system. I have advocated in favour of this unique supervision since 2009. However, I hope that the adopted agenda – 2014 – is not be too late. Indeed, the crisis is far from over and our banks remain fragile.
There is still a lot of work to do to strengthen a real banking union, in particulary the definition a resolution mechanism for bank failures. In this regard, it is a pity that United-Kingdom negotiate a bilateral agreement on this matter with the United-Sates, without waiting the propositions from the European Commission. This behaviour is even more unfaithfull that, for the banking supervision, the EU took care to spare the UK, who has an almost veto over eurozone decisions."