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Home arrow newsitems arrow EUCommissioner Barnier to EuroFora on Banks' Supervision : EU Summit Deal = matter of Political Will

EUCommissioner Barnier to EuroFora on Banks' Supervision : EU Summit Deal = matter of Political Will

Written by ACM
Tuesday, 11 December 2012

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*Strasbourg/EU Parliament/Angelo Marcopolo/- The competent EU Commissioner for the preparation of a crucial Supervisory Mechanism on Banks, linked to other decisive moves towards a strong Economic Governance in the €uroArea, key for successfully overcoming the curent Global Crisis, experienced former Foreign Minister, Michel Barnier, speaking to "EuiroFora", expressed his voluntarist optimism when asked about the current possibilities to broker a deal among EU Leaders in the forthcoming EU Brussels' Summit, as earlier scheduled :

- "Yes !" (EU Brussels, December 2012 Summit could conclude with a compromise Agreement on a Supervisory Mechanism towards a Banking Union draft, as it was proposed by EU Commission, positively agreed with "EuroFora" the competent EU Commissioner for the Common Market, Michel Barnier, who played a primary role in practical preparations to advance towards this direction.

- Simply because, "now, All main elements required for an Agreement, are already at the (Negotiation) Table", Barnier further explained.

=> - "Therefore, it's simply a question of (EU Government's Political Will !", the competent EU Commissioner concluded, speaking to EuroFora after a Press Conference on the sidelines of EU Parliament's Plenary Session this week in Strasbourg, during which, MEPs are due to debate Tomorrow (Wednesday), precisely on the forthcoming EU Brusselss Summit of Thursday and Friday.

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The SSM move is considered also to be a sine-qua-non condition for a possible re-Capitalisation of Banks in the foreseeable Future.

December 2012 EU Summit is mainly focused on advancing towards more Economic Governance by completing the Monetary and Economic Union according to decisions already taken in Brussels since 2010, until June/October 2012, and EU Council President Van Rompuy's just published "Road-Map" which highlights next moves to agree in the foreseeable Future.

At the October 2012 EU Summit in Brussels, it was agreed that the Legal framework for a "Single Supervisory Mechanism" of Banks, (keystone towards a so-called "Banking Union") is due to be finalized at the End of 2012/beginning 2013, (See "EuroFora"s NewsReports from Brussels then, f.ex. : http://www.eurofora.net/newsflashes/news/hollandeonbankinguniontiming.html + http://www.eurofora.net/newsflashes/news/merkeloneupoliticalwill.html ).

EU Parliament has recently adopted its own position on the SSM, currently awaiting to reach an Agreement with EU Council asap.

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Speaking on behalf of the EU Council's rotating Chairmanship, currently held by Cyprus, EU affairs Minister Mavroyiannis has just declared that "the Cyprus Presidency hopes to reach an Agreement on the Single Supervisory Mechanism (SSM), ..during (Wednesday's) extraordinary ECOFIN Council meeting".

- "The Successful Culmination of the efforts of a Single Supervisory Mechanism will be the Catalyst to the whole course Out of the current (Global) Crisis", including by the current "concrete efforts to develop a comprehensive approach in the Banking sector", as well as all other various "efforts to complete the EMU", Mavroyiannis reportedly stressed.

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(../..)

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(NDLR : "DraftNews", as already sent, earlier, to "EuroFora"s Subscribers/Donors. A more accurate, full Final Version might be published asap).

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It's important to create a synergy between "mutually stimulating" EU Countries' moves in order to overcome an "Unjust" Crisis "imported from USA", stressed new French Minister for Economic Revival, Patrick Devedjian, in Strasbourg, warning also that, while hoping for a vigorous Obama US Plan, nevertheless, "Time" is of essence for Europe...

In fact, it's EU's own interest to act Fast, before June 2009 EU Election, since, with Lisbon Treaty not ratified yet, it cannot face again the risk of a Majority Abstention, as back in 1999 and 2004, nor another "anti-EU" mood among Citizens, as in the 2005 French and Dutch "No", followed by the 2008 Irish "No", without endangering rare Historic opportunities, currently open for the EU, whose future is at stake.

From Social issues up to High-Tech Scientific Research, concrete action for Economic revival started from Strasbourg and its European dimension, for the new super-Minister Patrick Devedjian, who visited a Popular Social Housing and Infrastructure project at nearby Hagenau village, before meeting new leaders of Strasbourg's unified mega-University in a Scientific Labo at the Campus, close to EU Parliament and CoE headquarters.

Devedjian, who met also with all the spectrum of Local Political  deciders of Alsace region, close to FrancoGerman borders, wants for deeds to meet the words, in real practice, whenever politicians speak about Strasbourg and Europe's development.

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Devedjan to "EuroFora" : "European coordination can act as a multiplicator by mutual stimulations"
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Devedjian was questioned by "Euro-Fora" on his expectations for reciprocal effects of coordinated European plans :

- "We are living in a (European and Global) system where borders are transparent : When we take measures in France, they produce effects also in Germany, in Belgium, Italy, Spain, or other EU countries, and vice-versa. "So, we can have mutually stimulating effects between national revival Plans, if they are somehow coordinated", ..."They can augment each other's effects, acting as multiplicators and levers". "As a State stimulates Local authorities and Private business, similarly, each EU country's economic revival plan may multiply the effects of other EU countries' actions", he told us.

- "F.ex., when I visited Strasbourg University's Scientific labos, they told me that part of the renovation, funded by France, is realized by German companies located only a few Kms away from the border. Thus, the French revival plan benefits also the German economy. And vice-versa : when Germany takes certain measures, they can have beneficial effects also for French companies"

In an era of Globalisation, "nobody can close and isolate himself inside a Fish-Bowl !", he concluded.
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Economy's revival starts from Strasbourg and Europe, for new French Minister Devedjian
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This could be one of the reasons for which the new French Minister for Economic Stimulus chose to make his 1st visit to Strasbourg, the headquarters of European and Paneuropean Institutions, in the Franco-German river borders at the heart of Europe.

- "It was President Sarkozy's idea", he revealed, adding also fresh "support to Strasbourg's European vocation, not only with words, but also with deeds" :F.ex., the completion of a High-Speed Train network, due to stimulate fast links with Germany, Austria, Italy, Hungary and other central EU Countries.

- "This Crisis is Unjust for Europe, because it wasn't its fault". The greatest part of the "Crisis was imported from the USA, where problems are deeper than here'', in the EU. The Crisis "wasn't due to a bad managment by Europe", who was affected by problems which emerged elsewhere. That's why Europe must be united and active enough to face this challenge. said Devedjian, who has just won +5% in popularity...

- "I hope that there will be an "Obama-effect" also on Economy, and that the Plan of the New American President will be substantial enough to face this crisis, which is worse in the USA than in our area", Europe, he added.

"Economic Revival overcomes political divisions : F.ex. Strasbourg's Socialist Mayor "Ries agreed that State actions funded by Public Debt are justified during such exceptional circumstances", noted the Center-Right republican Minister.

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"Zeitnot" for 2009 EU Elections ?

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"My problem is Time", stressed Devedjian from the outset, at Strasbourg's University. "I have to engage 75% of funds in 2009, out of a total of 29 Billion euros", he explained later. "Monitoring will be of essence", because we must "avoid bureaucracy or delays. No project should get lost or neglected in complex meanders of adminstrative offices' moving sands", he warned.

- "I must create activities in the middle of the Crisis", he added. Questioned by EuroFora whether he aims to start creating some "hopes before the June 2009 EU Elections", Devedjian, a former leader of the Governing Political Party in France: UMP, did not immediately reply, but revealed, later, that he "hoped to start at least some Projects on May 2009, even if the bulk of Revival Plan's effects are "expected from Autumn 2009".

However, with only 30% of EU Citizens currently aiming to cast a vote at the forthcoming EU Elections on June, (See other NewStory), the  coordinated moves' results are expected to be crucial for Citizens' participation and votes at the forthcoming June 2009 EU Elections throughout all 27 EU Member Countries...Thus, it's vital for all Europe's own Future that coordinated national Economic revival plans start to have concrete results and create hopes for new dynamics before the June 2009 EU Election...

A real challenge, since careful choices are needed : Our aim is to fund projects which "create activities", even "in the middle of the crisis", and have a "lever effect, attracting other investments", Devedjian said. Because the "Stimulus' Plan has 2 aims : A Tactical one : to create New Activities. And a Strategic one : Choose what can become efficient and useful also in the Long-term". 

- "Are you ready ?", he asked Strasbourg University's new President, professor Alain Beretz, with some 700 million euros in his pockets for Education-Research in France. - "We are !", he replied.

- "The Minister's initiative can accelerate funds, and Time is important for us. This concerns the entire renovation of all our buildings", said to "EuroFora" President, Beretz. "I showed some Scientific Research Labos to Mr. Devedjian. But, If we had more time, I could show him also some Education Amphis, whose condition needs to meet Strasbourg's new Mega-University's ambition" to reach the 10 best in the World, as Prime Minister Fillon earlier anounced here.

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(Devedjian kicks off his Economic Revival tour from Strasbourg University, meeting with its new chairman Beretz, at Scientific Institute Le Bel) 

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Regional Prefectures should gather and select projects to be presented for decision before the end of January 2009.

A well-known close friend of President Sarkozy, who succeeded as EU Chairman to launch, in agreement with German chancelor Merkel and even British prime minister Brown, vigorous EU actions against the Financial/Economic Crisis, (starting from the 1st Historic Summit of EuroZone's Heads of State/Government, October 12 at Elysee Palace, followed by Washington G20 Global Summit), Devedjan will have a key role in the realisation of National and EU plans recently agreed in Brussels.

President Sarkozy is expected to arrive himself in Strasbourg, on the occasion of the official inauguration of its brand New Mega-Hospital, on the 9th of January 2009, at the eve of EU Parliament's session here, Elysee confirmed shortly after Devedjian's visit.

EU is due to review its economic revival plans at March 2009 EU Council in Prague, before the April 2 London Global Summit.

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Multi-facet concrete activities at focus : Stimulus Minister Devedjian at the Political, Social and High-Tech fronts in Strasbourg...

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