Specific tasks for the European Central Bank concerning policies relating to the prudential supervision of credit institutions (A7-0392/2012 - Marianne Thyssen)
Claude Moraes (S&D), in writing. − Confidence in the Euro area is vital for the prospects of the UK economy, not least in my constituency of London, which is heavily dependent on the financial sector, most at risk from the current economc crisis. The single supervisory mechanism is a first and vital step towards a fully fledged banking union and breaking the vicious circle between private and sovereign debt – and is a method to shore up this confidence within the Euro area. I welcome the calls from my UK Labour colleagues to put safeguards in place to make sure that the UK is not outvoted on decisions vital to our economic interest.