Marta Andreasen (EFD). - Mr President, with all due respect to the rapporteur, we should call this report what it really is: a cry for help by the European Parliament to remain relevant. The lesson still has not been learnt. We find ourselves in the current financial mess in large part due to the inefficiency of the European institutions. Angela Merkel recognised this by deciding to act intergovernmentally instead of interinstitutionally, during all the peaks of the crisis. Now we are being asked to empower the same institutions to be the supervisors of this new European Monetary Union, which will also result in an additional burden to taxpayers.

In a nutshell, this will entail more staff and even more money and will further remove powers from national supervisors, while the main problems remain unresolved. The EU needs to learn to do much less and do it better. More Europe simply makes a deep hole much deeper.