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Image header Agence Europe
Europe Daily Bulletin No. 10307
Contents Publication in full By article 21 / 40
GENERAL NEWS / (eu) eu/supervision

Michel Barnier answers MEPs' concerns

Brussels, 02/02/2011 (Agence Europe) - On Wednesday 2 February, EU Internal Market Commissioner Michel Barnier said that he would be responding that very afternoon to what he described as MEPs' legitimate concerns. The European Parliament wants assurances about the independence and financial and human resources of the three new European Supervision Authorities (ESAs) for banking, insurance and the financial markets (see EUROPE 10306). In a written message to this newsletter, he said that he would do all that was in the European Commission's power to ensure that the heads of the ESAs can operate in full independence. He added that he had respected to the letter the very tough and impartial process for nominating candidates. The EP has fought to ensure the ESAs were given meaningful powers and the MEPs are critical of the low level of the candidates attracted to the posts and the fact that one of the Commission's shortlists contained just one name (Andrea Enria as candidate to head the European Banking Authority). The MEPs fear that this will serve to weaken the role of the ESAs within the new European financial supervision set-up. (M.B./transl.fl)

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