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

*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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(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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