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Parliamentary question - P-008548/2012Parliamentary question
P-008548/2012

European Banking Union

Question for written answer P-008548/2012
to the Commission
Rule 117
George Sabin Cutaş (S&D)

Creating a European Banking Union might be the expected answer for both economic and financial crises and for the internal crisis that we are going through. In the context where simple coordination has proved insufficient to manage the banking crisis, and the monitoring of the activities of banks, most often with a transnational character, is limited at national level, the idea of a banking union is opportune. The European Central Bank (ECB) represents the nucleus of this proposal. Thus, the ECB would hold new responsibilities for monitoring about 6 000 banks in the euro area and request corrective measures where a bank violates capital requirements.

Since about 80 % of the banking sector in Romania is represented by banks found in the euro area Member States, the impact of this decision on my country is not insignificant. In addition, through compliance with official cooperation agreements consolidated with the ECB, Romania could be subjected to the same supervisory regime as the euro area Member States, the Central Bank having the right to request and verify certain internal documents.

In the context where the countries outside the euro area do not have voting rights on the ECB supervisory board, how, in the Commission's view, will agreement be reached on the desire to advance towards a Federal Union with promoting a Europe with two gears?

OJ C 286 E, 02/10/2013