Buzek and Trichet at the European Parliament. Crisis is not over; we should reform
10 September 2009
The European Parliament takes careful note of the initiative of 8 Member States to continue reforms in the banking sector and of the proposals to create caps and taxes on bonuses, cancelling rewards if investments fail.
"The European Parliament takes careful note of the initiative of 8 Member States to continue reforms in the banking sector and of the proposals to create caps and taxes on bonuses, cancelling rewards if investments fail. It is not easy to answer such a proposal at the EU level, at the European Parliament level we support it," said European Parliament President Jerzy Buzek at a joint press briefing in the European Parliament with European Central Bank President Jean Claude Trichet.
EP President Buzek also stressed: "We are still a strong defender of Euro zone enlargement. We (the European Parliament) also adopted five major proposals [in the financial sector], and next week we will sign them in Strasbourg. There are also new proposals such as the directive on alternative investment fund managers and we want to regulate hedge funds and private equity: The creation of a new financial architecture is very important for the European Parliament, with a strong single EU supervisor at the centre, the decision will be taken in the next few months."
European Central Bank President Jean Claude Trichet said: "I appreciate that there is a level of unity at the global level. There is a tendency in certain circles to consider that we are back to normal in certain areas. We should now concentrate on reforming what needs to be reformed. Lessons should be learned. We would not be forgiven if we did not do all that is necessary to avoid a repetition of what we have observed. "
© European Parliament
