President Barroso: it is essential to have a permanent crisis mechanism in place as soon as possible
24 November 2010
Barroso stressed that an ambitious financial sector reform is already well underway and important legislation has been accomplished. In 2011, the Commission will table the remaining pieces of regulation, such as MiFID review.
Key priorities such as transparency and consumer protection will be pursued, while a Bank Crisis Framework will aim to prevent and tackle future crises. The Commission will seek to support Parliament and Council in reaching agreement on the complete reform still in 2011.
Europe must keep pace, focusing on our comparative advantages in this 21st century of globalisation. When competitors are cheaper, Europe must be smarter. As an example of action at European level, we will develop a more integrated European standardisation system, as an important platform for sharpening the competitive edge of our companies, in particular the SMEs.
For Europe to remain competitive and secure more and better jobs, the transition to a low-carbon, resource-efficient society must be carefully planned. Therefore, bringing together the policies on climate change, energy, transport and the environment will be a priority. A particular focus in 2011 will be on energy efficiency.
Adapting to a dynamic economic reality also means ensuring a high level of protection of workers’ rights in close cooperation with social partners. Key proposals on posting of workers and working time will be developed and tabled in 2011.
Meanwhile, the revision of the State aid rules applicable to the services of general interest will be a tangible step towards establishing a quality framework, which takes account of the particular nature of these services.
© European Commission
