Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-368-000"

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". Mr President, ladies and gentlemen, as co-rapporteurs we have an extremely important role here too. It will be very important to my colleague that work should progress quickly and reliably on this file in the coming weeks and months. All eyes are on us and the Council in this regard, waiting for us to overcome the crisis with the banks in Europe with a further step towards Europeanisation, namely a European banking union. It should be pointed out that Parliament demanded this with a broad majority two years ago. We held 26 trialogues. We made some progress in this direction, but unfortunately we did not get as far as we really needed to. This resulted in several billions more being added to the bill. It is good that the Council has now seen the writing on the wall and wishes to take things one step further for the good of the euro area. It is praiseworthy that the Commission has drawn up the proposals so quickly. There are some difficulties with the Council’s proposal that the European Central Bank (ECB) should become the euro area watchdog, however. This results in unanimity in the Council, and means that Parliament is no longer involved in this matter in the codecision procedure. In the light of our experience with the supervisory package, this is not acceptable. That is why it is important that we should work quickly and that we should also negotiate this proposal regarding changes in the ECB as a package with the necessary changes in the existing supervisory regime, thereby securing the principle of the democratic involvement of Parliament on a de facto basis. Other challenges also exist on a democratic level. The ECB is independent in terms of monetary policy, but not in terms of fiscal policy, for which it has had no responsibility until now. If it is now made responsible for bank supervision, Parliament needs full budgetary rights, control rights, questioning rights and appointment rights, and I am certain that Parliament will support this with a broad majority. We shall have to discuss the complex additional questions relating to the internal market, consumer protection and the balance between European power and financial responsibility in detail in the coming weeks."@en1

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