Following an important vote last night in the economic and monetary affairs committee, S&D Euro MPs called on the Council to advance works to reduce risk in the banking sector and further strengthen the resilience of EU banks. The Socialists and Democrats urged European finance ministers to agree on serious and ambitious proposals to reform the European Monetary Union without further delay. Lack of progress has already cost European citizens excessively.
Parliament's negotiator for CRR/CRD, Peter Simon MEP, stated: