Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-11-21-Speech-1-128-000"
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"en.20161121.14.1-128-000"2
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"Madam President, the big challenge is how to kick-start economic growth and create new jobs. Banks are key players in achieving this goal by bolstering the EU economy. However, we have to ensure that banks are stable and well capitalised because they are fundamental to sustainable economic growth.
As co-legislator, Parliament needs to assess carefully the qualitative and the quantitative impact of these new reforms on the European economy, in particular the financing of infrastructure and real assets. Therefore we need to be mindful that we are not disadvantaging the European competitive position. But to do this we need to recognise that we must speak with one voice. Global developments in recent weeks mean there is a potential impact due to the result of the American elections. It is now unclear whether the US will stick to its commitments, and it may well be that Basel III/IV gets kicked into the long grass.
Vice-President Dombrovskis, in the committee a fortnight ago, you were clear in saying that anything that leads to significant increases in overall capital requirements on Europe’s banking sector would be unacceptable to the Commission. Are you concerned about recent developments across the Atlantic, and about the potential implications for the finalisation of Basel III?"@en1
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