Main menu (press 'Enter')
Access to page content (press 'Enter')
Direct access to list of other websites (press 'Enter')

Launch of tough negotiations on final step to banking union

ECON Press release - Economic and monetary union08-01-2014 - 11:58
 

Negotiators for Parliament and the Greek Presidency of the Council start talks on Wednesday in a bid to reach a deal in the coming months on the next step towards banking union –- an EU system for winding down failing banks, with a single fund to pay for this. Positions are far apart, with MEPs insisting that the system must not be cumbersome or vulnerable to political back-room deals.


Both EP President Martin Schulz and the MEP leading the negotiations, Elisa Ferreira (S&D, PT) have stated clearly that the single resolution mechanism and the fund must be truly European and the decision-making process must be able to work swiftly, free from political interference.  They also stress the importance of establishing a fund that will be capable of fulfilling the fundamental goal of banking union breaking the link between taxpayers and banks.


Parliament's negotiating position was approved by a very large majority in the economic and monetary affairs committee.

REF. : 20140107IPR32002
 
 
Contacts