Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-03-Speech-4-502-000"

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"en.20110203.25.4-502-000"2
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"This whole selection procedure was an unsatisfactory mess and marks an inauspicious start for the new financial supervision authorities. The Commission and Council share the responsibility for this situation and it is important that lessons are learned for the next round of appointments. These new authorities must provide rigorous and effective oversight of the financial sector to avoid the mistakes of the past and it is regrettable that the status of candidates was not higher. The Greens were particularly unhappy with the candidate for the chairmanship of the new insurance and pension authority, Gabriel Bernardino. There are real concerns that Mr Bernardino is not committed to providing meaningful European supervision and will be a lap dog of the national authorities. He also appears to be downplaying the potential risks the insurance sector poses to financial stability. For this reason, the Greens voted to reject his candidature. It is crucial that the new authorities and their chairs carry out their functions in the interest of Europe’s citizens. To this end, the Greens pushed for greater transparency as regards the relations between industry representatives and the authorities and their chairs, and we are happy that all three candidates have committed in writing to ensuring this."@en1
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