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European Supervisory Authorities: European Parliament satisfied with assurances received from Commission and Council. Jean-Paul Gauzès MEP


03 Feb 2011

"The European Parliament has received clear assurances from the Hungarian Presidency of the Council and from the European Commission which dispel doubts as to allocated resources and the autonomy of the new three European Supervisory Authorities of the financial sector", said Jean-Paul Gauzès MEP, EPP Group Spokesman on Economic and Monetary Affairs on Thursday.

In a letter to the Chairwoman of the Economic and Monetary Affairs Committee on Thursday, Vice-President of the European Commission, Maroš Šefčovič, and the European Commissioner for Internal Market and Services, Michel Barnier, assured Members of the European Parliament of their committment towards strong Authorities, independent of any political or other interference". They also assured the European Parliament that the Authorities would be provided with the necessary financial and human resources to fulfill their mandates.

"Through its determination, firstly during the negotiations on the Financial Supervisory Package, and then recently during the discussions on the designation of the Chairmen of the Supervisory Authorities, the European Parliament has succeeded in ensuring that the conditions for the establishment of an effective European supervision are met."

"I welcome the response of the European Commission, in particular the Commissioner for Internal Market and Services, Michel Barnier, who played a decisive role in these negotiations. Once more, the European Parliament and the European Commission prove to be the spearheads of the new financial architecture that will prevent future crises from occurring."

"My political Group in the European Parliament will stay vigilant over the functioning of the European Supervisory Authorities. We will pursue our commitment in favour of a strong and efficient European supervision", concluded Jean-Paul Gauzès.

(Translation from the original French)

For further information:
Jean-Paul GAUZÈS MEP, Tel: +32-2-2847700
Marion Jeanne, EPP Group Press & Communications Service, Tel: +32-479-840293

Notes to Editors:
The EPP Group is by far the largest political group in the European Parliament with 265 Members.


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