Simon Lewis, chief executive of the Association for Financial Markets in Europe, commented on the agreement by European finance ministers on the European Central Bank (ECB) becoming a common bank supervisor.
“ECOFIN’s decision should be welcome as a major step forward and also an essential element in resolving the eurozone crisis. The Single Supervisory Mechanism forms a key component of banking union and the fact that Member States have now reached agreement is a welcome demonstration of the strong political commitment to this important project. It is essential that this momentum is maintained.“
"Banking union should enhance the Single Market as a whole and AFME supports the significant effort to achieve fair and balanced decision-making for the European Banking Authority (EBA). The EBA should also have authority to develop a supervisory handbook for the Single Market as a whole in order to ensure quality, consistent supervision for all banks in Europe.“
Press Comment
© AFME
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