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 Full text 
Wednesday, 15 January 2014 - Strasbourg Revised edition

5. Programme of activities of the Greek Presidency (debate)
Video of the speeches

  Corien Wortmann-Kool (PPE ). - Madam President, first I too would like to congratulate Prime Minister Samaras for the work he has done for the Greek people and also for the European Union. This experience should help make the Greek Presidency a success, but it will not be easy. We all want the Banking Union up and running as soon as possible. This is crucial in order to speed up economic recovery, but the Council created major obstacles on the last legislative file in the Single Resolution Mechanism.

What started as a legal concern of one Member State has now resulted in splitting the fund and in a complete overturn of the governance of the Resolution Mechanism into an overly complex system, leaving crucial decisions up to the Member States. This will seriously undermine its effective functioning where bail-in needs to applied, because the banks have to pay themselves. It will also not assure equal treatment of banks, irrespective of the Member States in which they operate, including equal treatment with regard to the Resolution Fund. Moreover, because of that, it will not break the link between banks and sovereigns.

Following what President Daul and others have said, this Parliament does not trust banking resolution subject to the political bargaining of Member States. Therefore we cannot support a bad deal. Prime Minister Samaras, you know the clear position of this Parliament, and if you also want the file to be concluded before the European elections, you have to wake up the Council. You have to get an ambitious mandate for the negotiation and you have to get it soon, in order to get it completed before the European elections.

Last updated: 6 March 2014Legal notice