EUParliament Rapporteur Thyssen to Eurofora:2002 Delay on Banks Supervision overcome on Autumn 2013?

*Strasbourg/EU Parliament/21-22 May 2013/Angelo Marcopolo/- EU Parliament's Rapporteur on Banking Supervision, the centerpiece of the Banking Union project, that many hope to use for stimulating Growth, experienced long-time MEP Marianne Thyssen, Leader of the Belgian Delegation to the biggest EU Parliament's Group, that of ChristianDemocats/EPP, and Member of its Bureau, speaking to "EuroFora",  while the Plenary was set to debate and vote on adopting her Report, foresaw the conclusion of necessary Negotiations with ECBank and Governments during the forthcoming Months, but also acknowledged the fact that EU could have already completed its Economic/Financial Governance reforms much earlier, even before the 2008/2999 Globl Crisis, indirectly but surely pointing at certain 1999-2002 Errors ;such s Turkey's controversial EU bid, which noitoriously provoked the 2005 "No" to EuroReferenda on the EU Constitution project, back on 2005, which weren't overcome but only with the 2007-2010 ad.option of the New  EU Lisboj Treaty between 2007-2010, i.e. after the 2008/2009 Global Crisiisj.                               
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In particular, EU Parliament's Rapporteur highlighted to "EuroFora"  the main Next Steps, until probably this Summer and/or Autumn 2013, particularly vis a vis ECB's new role, in Negotiation with MEPs and EU Council, in order to complete the 2 or 3 last Cornerstones in the edification of EU's Banking Union, that many believe to be a "must" for stimulating much needed Sustainable Growth :
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- "We (EU Parliament) are going to vote" on her Report for EU Central Supervision on Banks , so we have a Debate this afternoon (Tuesday, May 21), but we shall vote only the bulk of Amendments tomorrow (on Wednesday, May 22), i.e. we confirm what was decided in Trialogue, the agreements that we (EU Parliament) made with the EU Council".

>>> - "However we will have to Postpone the Final Vote, until transmissions to the other (EU) Institutions), because we want to have Time to create the necessary conditions for EU Council's Agreement; and room for manouver for final negotiations also with the ECB, EU Parliament's Rapporteur stressed to "EuroFora".

 - First, "given that we still don't have the final agreement fom the (EU) Council, which cannot yet decide unanimously because in one (EU) Member State, Germany,  the Minister of Finance has to Wait the Vote from its National Parliament (i.e. Berlin's Bundestag), as a consequence of the BundesVerfassungsGericht's (German Constitutional Court's) judgement" at nearby Karlsruhe, of 9/2012, which has notoriously asked for a previous consultation of the National Parliament on such measures due to affect the National Budget, she reminded.

+ But, the most important, seems to be that it's also "because we (EU Parliament) want to have room for manoeuver to negotiate a Strong Inter-Institutional Agreement with the European Central Bank (ECB), that is responsible vis a vis the EU Parliament", Thyssen pointed out.

- "We have already concluded on Legislation", but, in particular, "we want to be Sure that in Practice, it EU Parliament) will be Able to exercice all its Rights" :

 - In fact,  "we (EU Parliament) want to have a Strong position towards the ECB, which is used to work Alone in Monetary policy, where they are not Accountable" to anyone, "because they were due to be Independent", in that specific activity.  And we (EU Parliament) want to be sure that they have made their mind that now they (ECB) ar really Accountable to EU Parliament, (at least on Supervision of Banks : ECB's New Mission, added to its initial Task); and that they wiill respect the Rights that we (MEPs)  have" vis a vis the Banking supervision mechanism, she stressed.

- "We Postpone the Final Vote mainly in order to exert Pressure on ECB", stressed also the main Speaker of EU Parliament's biggest Group, that of ChristianDemocrats/EPP, French MEP Gauzes, speaking later-on to "EuroFora".
 => For that purpose, a sequence of negotiations between Franckfurt (ECB Headquarters) and Strasbourg/Brussels starts asap : On this Crucial point, "we've just Started (EU Parliament - CEB) Negotiations last week", and, "It might go on until this Summer, I don't know", Thyssen estimated.

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+ "Next Step (in order to complete the Banking Union Structure)is the Resolution systems for Member States", she added in reply to another "EuroFora"s question.
  - In fact, "we (EU Parliament) want to be sure that if something happens,  and a Bank is in a Bad situation, then therer is a mechanism, with a good structure and the Right Tools, to let this Bank stop their credit activities, and take economy measures. So we want a good Alternative to the old Insolvency Systems, which are not fit to the quality of the Banking system", Thyssen explained.

=> Thus, Yesterday (Monday, May 20) Evening was voted in the Economic affairs Committee (Swedish MEP) Mr Hokmark's Report, concerning Recovery and Resolution of Banks.

>>> - "So, after yesterday Evening's decision at the competent Committee, .. ...He starts Negotiating with the (EU) Council, and they can proceed as fast as possible, it means that they could finish the dossier, I hope, on July or September, I don't know. It's Difficult for me to Foresee. But we'll sSart as Quickly as possible", she promissed.
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Concerning the overall EU Timing issue, EU Parliament's Rapporteur practically agreeed with "EuroFora" that, if EU had avoided some 2000-2004 errors which had led to 3 "No" (in France and the Netherlands, followed by Ireland) to EuroReferenda on the EU Constitution  project, back on 2005, provoking a Delay on Institutional Reforms until the adoption and the entry into force of the New Lisbon Treaty later-on, between 2007-2010, EU might have already completed its Banking Reform well before the subsequent, 2009 Global Crisis, sparing many Hardships, efforts and Time currently needed in order to finalise EU's "Banking Union", of crucial importance today for Europe's Economic Governance, indispensable for sustainable Growth.

In fact, EU's Economic/Financial Reforms "could have started Earlier", i.e. before the Global Crisis, (as it had been already foreseen f.ex. in a landmark 9/1995 EU Parliament's debate for the introduction of the €uro, which had mainly pointed at the fact that the transfert of Monetary powers from the States to the ECB would create a need, due to be more and more felt by EU Citizens,  to establish also an EU Economic/Financial Governance),  but "lost 5 Years", due to the "No" to EuroReferenda oganized for the EU Constitution project, notoriously rejected by large Majorities of People in France, Netherlands and Ireland, (mainly provoked by Turkey's controversial and impopular EU bid since the 12/1999 Helsinki EU Summit, that Thyssen knows well, as Member of EU - Turkey joint InterParliamentary Committee too)....

- "Yes, We (EU) lost 5 Years" then, (i.e. by certain errors committed back on 2000-2004).  "I tell you that, already", as early as "since 2002 the EU Parliament had asked for a strong Central Supervision of Banks., However, what we are doing now is truying to solve the problems which followed the subsequent Global Big Crisis,   (which appeared several years later, after 2008/2009+). But, we have had already warnings before, and EU Parliament had already asked to act on the Banking situation since 2002.After all that, now it's time to have everybody at the same" table and take adequate decisions, she urged.
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EU Parliament's Plenary gave, indeed, a strong Support to Thyssen's Report, (together with a complementary Reprt by MEP Sven Giegold on the European Banking Authority), by  adopting on Wednesday Noon, with a large Majority, all the proposed Amendments to EU Commission's draft, but willingly accepting her suggestion (together with that of he coillegue's Giegold) to exceptionally postpone the Final Vote on the Legislative proposal for later-on, (Comp. Supra).

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