Brussels, 03/02/2011 (Agence Europe) - A storm in a teacup? The guarantees supplied by the EU Council of Ministers and the European Commission have reassured MEPs and they therefore endorsed on Thursday 3 February the three individuals nominated to head the new European Supervisory Authorities (ESAs) for banking, insurance and the financial markets, despite voicing earlier concerns. Steven Maijoor of the Netherlands, Andrea Enria of Italy and Gabriel Bernardino of Portugal will head the European Securities Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA).
The chair of the EP's economic and monetary affairs committee, Sharon Bowles (ALDE, UK) said that the committee had initially tabled resolutions rejecting the three candidates because they were unhappy with the appointment process (see EUROPE 10307 and 10306), but the assurances given had won over most of the committee, which is now prepared to give the green light to the three. The assurances cover the independence of the new chiefs, training up the management boards, financial and human resources and the appointment process. The MEPs were not happy with the low-ranking candidates attracted to the job of heading the ESAs and the meagre shortlists (a single name on the EBA shortlist, for example), fearing that this would lead to a watering down of the power of the ESAs in the new EU financial supervision set-up.
The Hungarian European affairs minister, Gyõri Enikõ, said the EP's message had been heard by the Hungarian Presidency and it was extremely important for the three ESAs to have competent leaders and guaranteed finance.
EU Internal Market Commissioner Michel Barnier stressed the transparency of the appointment process, pointing out that 275 applications had been received in total. He said he personally regretted that one of the two individuals on the EBA shortlist, a woman, had withdrawn at the last moment. He might have been referring to Kerstin af Jochnick of Sweden, former chair of the European Bank Controllers' Committee. During a debate on Tuesday, Barnier promised to ensure better parity between men and women in the appointment of the managing directors of the ESAs and for the leaders of national authorise to attend the ESA management board meetings at least twice a year. (M.B./transl.fl)