Barnier: Financial reform must be continued

10 June 2014

The Commissioner argued it was a good moment to reflect on progress in managing the crisis and in focusing financial reform on serving the real economy. He reviewed the 40 measures undertaken and urged continued improvement, in the light of the political shocks from the recent European Election.

Translated from the French

Commissioner Barnier reviewed progress to date in reforming the financial system. He outlined three areas of further work: " The adoption of some important texts that remain on the table with co-legislators, the implementation and possible improvement of the texts adopted and the study of the impact of our  program  on growth: these three points show that the great reform movement that we began four and a half years does not stop."

Moreover, apart from EU institutions and Member States, "It is important that national parliaments remain vigilant" and get stuck into substantive issues and engage with social partners. He concluded by urging all to ask how we add value at a European level, by "Identifying on the one hand areas where political action is more effective at national or regional level, and on the other  the few priority areas where we need to act at European level to remain free in the world of tomorrow, such as in industrial policy, energy, digital or defense areas.'

Press release (in French)

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