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Home arrow newsitems arrow EU Parliament Economic Comittee Chair Bowles to EuroFora:Banking Union Law may not be ready December

EU Parliament Economic Comittee Chair Bowles to EuroFora:Banking Union Law may not be ready December

Written by ACM
Monday, 22 October 2012

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*Strasbourg/EU Parliament/Angelo Marcopolo/- The Legal Framework of Eurozone's Banking Union may not be ready for December 2012, because a Timely and full Agreement between MEPs, EU Commission and EU Council looks a this moment rather unsure, given the probably High Number of Amendments expected on several Serious Legal, Financial and Political issues, independently of what was agreed between Heads of State/Governments' last week in Brussels, said in substance to "EuroFora" the President of EU Parliament's Economic affairs Committee, Brittish Liberal MEP Sharon Bowles.

 


The exact Timing is of great practical importance, since the expected ReCapitalization of Banks in need cannot proceed before ECB's Single Supervisory Mechanism has been set up correctly enough (comp. relevant "EuroFora"s NewsReports from last week's EU Summit in Brussels : http://www.eurofora.net/newsflashes/news/hollandeonbankinguniontiming.html + http://www.eurofora.net/newsflashes/news/merkeloneupoliticalwill.html)

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Significantly, Bowles spoke to "EuroFora" after the 1st Discussion by MEPs, late this Evening in Strasbourg, of 2 relevant Reports tabled in EU Parliament's Economic Committee, on"the Tasks to confer on ECB concerning .. the  .. Supervision of Credit Institutions", and on subsequent "Amendments to the EU Regulation .. on .. European Supervisory Authority (alias "European Banking Authority", which existed already inside the EU), drafted respectively by German MEPs Marianne Thyssen (ChristianDemocrat/EPP) and  Sven Giegold (Greens), during which many MEPs from various Countries and/or political Horizons expressed several concerns and/or proposals for Change on many concrete points of EU Council's Draft, most of them anouncing also their intention to table relevant Amendments.


Bowles anounced to the competent Committee's Members that Amendments have to be Tabled this Friday, on October 26, so that they can be Examined and Discussed by the Economic Committee on November 9, before being Voted upon, on November 29, so that both Draft Reports might hopefuly be debated in Public and adopted by EU Parliament's Plenary session of December (10 to 13) in Strasbourg, i.e. just 1 or 2 Days before the EU Heads of State/Governments' Summit in Brussels, scheduled for 13 and 14 of December...


This Time Schedule is obviously so "Tight", and the various Changes demanded by many MEPs on serious, concrete points, so numerous, that "it's quite Uncertain" if an Agreement between EU Parliament and EU Council might be brokered on the Single Supervising Mechanism of the ECB before the December Summit, since "it seems that there will be Many Amendments, and even myself will table some", the President of the competent Committee, Sharon Bowles, warned "EuroFora".

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 - Indeed, "I expect a lot of Amendments", but "it's better to take as much as possible Now, instead of crying after 2 Years, (i.e. when the forthcoming European Banking Union is scheduled to start working effectively, around 2014), so that we (EU Parliament) can ensure that what we decide, holds water", observed at the conclusion of the Economic Committee's discussion its main Rapporteur, MEP Marianne Thyssen.


Meanwhile, the other Rapporteur, MEP Sven Giegold (comp. Supra) had already warned that a too "hasty" Legal Text would risk to be referred both to the German Constitutional Court, at nearby Karlsruhe, and/or to EU's Court of Justice in Luxembourg..

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The 1st Discussion in EU Parliament of Banking Union's Draft Legislative framework had revealed, earlier today, inside the Economic Affairs Committee, that the main questions to be settled concerned particularly the need to find ways according to which the eventually participating Non-Euro Member Countries would be treated, as much as possible, at an Equal (or at least "Balanced") stand with Eurozone Countries, (an issue which reportedly occupied for many hours the Heads of State/Governments, last week, back in Brussels), but also various other relevant issues :

F.ex., whether ECB's Supervision will cover, or not, "Public sectors' Banks" in countries like France and/or Germany, etc. ; if the exclusion of Insurances from ECB's supervision, was justified and practical, or not ; whether ECB itself, or the pre-existing EBA, if not the creation of a brand new body would be better fit to the tasks of a Single Supervisory Mechanism ; how could ECB's Monetary and Supervision policies be completely distinguished and separated ; whether Banks located in EU Countries which are not EuroArea Members but "dominated by EuroArea's Banks" should be included, or not, and how ;  how to ensure the Independence of the Banks' Supervision activity from Political Interferences of States or even by EU Commission, etc. as it reportedly occurs vis a vis ECB's Monetary activities ; (etc), and other "Significant Legal Problems, as resumed a MEP, which might legitimate demands to give "some More Time" to EU Parliament to reflect, debate and decide, together with EU Council, on the best possible Legal Framework for a Mechanism "concerning Europe's Future", as several MEPs observed.  
 
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(NDLR  : "FlashNews". A brief summary of "EuroFora"s DraftNews, already sent earlier to Subscribers/Donors. The full text and/or a more accurate and complete Final Version may be published asap).

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Benedict's "Source" to revitalize Europe : - "The World needs Hope", Pope says, calling to relaunch E.U. via Human Rights !

Paris - Lourdes - Strasbourg : 12 - 17 September 2008.

The vital need to re-launch Europe can be succesfully met by defending fundamental Human Rights of the People, said Pope Benedict XVI in his 1st speech in France, at his meeting with President Nicolas Sarkozy, who currently chairs the EU.

Sarkozy replied by welcoming Christian and other religions' contribution to indispensable Public Debates on crucial issues which affect Human Dignity, Europe, even Humankind, as BioGenetics.

- "When Europeans will see and personally experience that the inalienable Rights of the Human Person .., those of their free Education, their Family life, their Work, ..their Religious Rights, ..are respected and promoted, then, these Europeans will fully understand the greatness of the European construction and will be actively involved in it", Benedict XVI stressed.

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- "It's important that during France's EU Presidency, there is, indeed, a desire for the Church to contribute to protect Human Person's integrity, and I think that there is also a growing Conscience, beyond any polemics, to defend Human Rights, and, thus, contribute to ensure respect for Human Dignity", added to "EuroFora" the Pope's Spokesman, Vatican's Press Director Federico Lombardi.

- "Nobody really told us here that Lisbon Treaty was good for this or that reason to the People. They only told us that we "had" to ratify it, and tried to scare us, but failed", said 2 Irish pilgrims to "EuroFora", after 2 Majority Abstentions in 1999 and 2004 EU Elections and 3 "NO" to Referenda in France and the Netherlands in 2005, followed by the Irish "No" in 2008, during a Decade of EU Crisis since the controversial Turkey EU- bid (1999-2008).

More than .."224 cases of Murders, Torture, "Disappearancies" or Destructions" by "agents of Turkish Security forces", where all those responsible for so heavy Crimes still remain scandalously unpunished, despite regular condemnations of Ankara by Strasbourg''s European Court of Human Rights from 1996 to 2008, were examined the same week by CoE's Ministers, who decided to launch a fresh call "urging" the Turkish Authorities to end this dangerous "virtual Impunity" of criminals, without comparison to European countries.

- "Why not Ukraine, instead of Turkey ?", asked EuroFora a Journalist from "Kiev : the city where it's enough to cross the streets in order to realize that it's a European town", as Sarkozy recently said, before solemnly declaring this week, together with Ukranian President Jushenko and EU Commission's chair Baroso, EU's "recognition that Ukraine is a fully European Country, linked to Europe by culture and History".

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Europe's "Christian roots" and Values, with "openess and mutual respect" to other cultures and beliefs, were highlighted by Sarkozy in harmony with Benedict XVI.

The Human person should be protected "from his inception until his natural death", added the Pope, faithful to BioEthic principles defended by his predecessor and collaborator, John Paul II, of topical importance in France, Europe and the World today, as Sarkozy announced :

- "Fast and important progres in Genetic Science and procreation raise delicate BioEthical Questions to our Democracies", which "involve our view of Humans and Life, and can lead to Social Mutations. That's why they cannot remain only a business of experts", hestressed.

- "It's Politician's responsibility to set a proper framework for such Public Debates", as "France will do on BioEthics in 2009". "Religious and Philosophic traditions must take part, with their ideas and centuries' long experience : A positive Laicity is an open invitation to Dialogue", he said.

- "France engaged in Europe at another Debate on how to make Financial Capitalism more moral", and the "Social doctrine of the Church fits well what is at stake in modern Globalized Economy"

- "But, a "Real Dialogue is not for an elite of a Globalized world : It penetrates deep into the People : That's why Churches should actively participate : .. It's bringing New Oxygen to Public Debates", stressed Sarkozy.

- "Democracy must not be cut off Reason", which is "compatible with Faith", thanks to "the meeting between Christianism and Greek philosophy ", he added, referring to Pope's views. "It means to advance with logic arguments, search what's best and respect common principles of thinking :... It's an everyday need for Public Administration and the Political Debate", he added.
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Pope Benedict's 1st visit to France looked like the start of a brillant, manifold demonstration that this was well-founded and could become true in the lives of the People : After its Theoretical foundations unfolded at a "speech to the world of Culture", inaugurating Bernadins' cultural centre, and its dogmatic instrument shaped at an address to the Clergy in the Historic Notre Dame' Cathedral, he started to resolutely reach out to the People :

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The move went upwards like Bach's music : Begining with a call to more than fifteen thousand enthousiastic Youngsters gathered at Notre Dame's parvis with overnight celebrations, it gained strength in an impressive open-air Mass at Paris'central Invalides'area facing Alexander III's bridge, attended by more than 150.000 people, French Prime Minister Fillon, many Ministers, Foreign Ambassadors, etc, and culminated in a series of pan-European Mega-meetings at Lourdes 150th anniversary, together with all French Bishops, EU Commission's vice-Chairman Barrot, and some 200.000 enthousiastic People from all over Europe and beyond : After a Sea of Lights astonishingly braved Saturday Night's rain, an open-air mass at riverside fields among Pyrenees' Mountains Sunday Morning, was followed on Monday by a Sea of "Compassion" to those facing Health or Life threats, surrounded by an endless gathering of People, whose gigantic dimensions obviously surprised the organisers..

Meanwhile, Benedict had the occasion to speak to the French Priests at Notre Dame of Paris, and with the Bishops at Lourdes, where they prepare a crucial November plenary meeting, due to take important decisions on imminent EU debates and choices about Europe's identity, BioEthics, etc.
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- "A new way of thinking about Laicity has become necessary", agreed the Pope with President Sarkozy at Elysee. While keeping the "distinction between Politics and Religion, to guarantee Citizens' Liberty", "religion is important for shaping Consciousness and contributing, together with others, to create a basic Ethical Consensus in society".

- "Searching Essential realities", (as "God" for christians), needs "Speech : "Logos" in greek, i.e. Reason", "able to shape a Community","with creative work transforming Human History". But "Dialogue" is instrumental for "Reason", because it's the way to "search" for Truth", in "Liberty", according to Greek Platonic Philosophy, with Socrates' dialectics. "Reason" implies "Spirit and Liberty", hence the polyphonic "Music" of "Dialogue", in a responsible, "well balanced" way, to avoid "destruction".

Starting with a "Dialogue between christians and intellectual or artistic movements" highlighted at Bernardins' Cultural Center. with former Presidents Chirac and Giscard d'Estain, UNESCO's chair Anastassopoulos, etc., as well as representatives of Muslim Communities, (including a separate Turkish), after contacts with Jews at Vatican's Embassy, the Pope turned towards the People :

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To French Priests : "Church built on the rock" !
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- Speaking to thousands of French Priests at Notre Dame's Cathedral, Benedict highlighted a solid "Church built on the Rock" of conscious and active persons, transmitting "a lively, energetic and sharp" "God's Speech, actively working on Human History".

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"Praying together" with "representatives of Christian Churches and ecclesiastic communities", (as Orthodoxes, Armenians, Protestants, etc), he called "to reinforce the Unity of the church", against "any form of Division", around Holy Spirit', "the Word","Christ's Justice", and "Love" to fellow- humans : Essentials which "resume all holy scripts", as he said.

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To Young People : "New Horizons"
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To some 15.000 enthousiastic Young People at Notre Dame's parvis, along Seine's river, Benedict spoke about "the Energy of the Holy Spirit" and "the Mystery of the Cross" : - "The Holy Spirit opens New Horizons to Human Intelligence .. and makes it conscious of the real greatness of Christ's sacrifice, dying and resurecting for World's life".

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Some "may slander you as crazy, laugh at you, or even persecute you. But, "the Holy Cross is a symbol of God's love", and "givesmoral strength" : "Witness of People's pains, it's at the same time, a precious, unique expression of their Hopes", he told them at Paris' dawn.

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Invalides' plateau : "People chosen to become God's friends"
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At the 1st open-air Mass in Paris' center area of Invalides, facing the Grand Palais, along the river Seine, during an impressive gathering of more than 150.000, French Prime Minister Fillon, Ministers Alliot-Marie, Bachelot, Dati, Jouyet, Assembly's President Accoyer, Senate's Chair Poncelet, former 1st Lady Bernadette Chirac, former Prime Minister Raffarin, many foreign Ambassadors, and other political personalities were present. (While earlier, from the Socialist opposition, Paris' Mayor Delanoye, artist Robert Hussein a.o. assisted at the Elysee meeting).

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But the "Entry Song" focused on the "People chosen to become God's Friends". The September 11 mass was Dedicated to "Saint Chrysostomus, that great priest of Constantinople", with his "wonderful eloquence and great courage to face challenges", who "made out of despaired and godless people, a people of brothers", opening a possibility to "become all one complete entity", as Pope Benedict reminded.

- "Reason never enters in real contradiction with Faith", stressed Pope Benedict, who prepared his speeches for France during a short Summer rest at Brixen/Bressanone's Seminar, whose Library honors both "Faith and Science".. - "We must use not only our Reason, but also our Faith" : "Get away from Idolatry", "cupidity", "avidity for money, power or even knowledge deviating from essential aims", and other "falses appearances". and "build your Home on the Rock", "with the force that Holy Spirit gives to those who let it act in them", he said to the People of Paris.

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Benedict at Lourdes : - "Become Light (even) in the Dark !"
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- "Our World needs Hope", stressed Pope Benedict, addressing an impressive TorchLight procession at Lourdes' sanctuaries, where a Sea of Lights held by Hundreds of Thousands of People gathered at Pyrenee's Mountains from all over Europe astonishingly kept their flames despite a heavy Rain at a windy Dark Night...

- "150 years earlier (1858 - 2008), ..here, in the cave, ... a simple young girl, Bernadette .. saw a Light". "The everyday life of her Family was, however, made of Misery, Sadness, Sickness, Misunderstandings, Rejection and Poverty... It was hard to live in Jail". Today, "we think to all Human Beings who suffer : The innocent Victims who face Violence, War, Terrorism, Hunger, Injustices, Catastrophes, Hate and Oppression, Violations of Human Dignity and of their fundamental Rights, of their Liberty to act and think. We also think to those who face Familial problems, sufferings from Unemployment, Sickness, Infirmity, Isolation, or their situation as Immigrants, without forgetting those who suffer and die for the name of Christ", he said.

- "But the Shadows of the Earth, did not hinder Sky's Light to shine : <<The Light shines in the Dark>>" ..."A Way full of Light opens in Human History even in its Darkest moments" : ..."As Night falls, Christ tels us : <<- Keep your Lamps alight !>>."Hold a Light while walking in the Night .. sums up our condition as Christians on their way : "We need light, and we are called to become Light !", Benedict stressed to People setting in motion Lights, Flags and Songs with enthousiasm.

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"<<- She looked at me as a Person, who speaks to another Person>>, the poor girl had noted."Light emerges from such a Dialogue", stressed the Pope : "A small Flame called Hope, Compassion and Tenderness dwells inside those who return after being moved by Lourdes' experience". "Christ .. entrusts us with the Mission to let the Light of Charity shine : To make of our Prayers an Act of Love to our brothers and to Fraternal Charity", he concluded.

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