Brussels, 28/03/2013 (Agence Europe) - Germany has asked for changes to the agreement in principle on the eurozone bank supervision mechanism to be set up under the aegis of the European Central Bank (ECB) that the Irish Presidency of the EU Council of Ministers and European Parliament representatives reached last week. Germany called for the changes at the meeting of member states' ambassadors (Coreper) on Wednesday 27 March (see EUROPE 10810).
Keen to make it easier for the Bundestag to endorse the deal, the German government wants changes to how the Supervisory Committee to be set up at the ECB will operate - it is being set up with a view to hiving off bank supervision from monetary policy (the latter is the remit of the ECB's Governing Council). Germany says the procedure for removing the chair of the committee should also apply to the vice-chair and wants national parliaments to have the power to question bank supervision decisions. The German government wants stronger wording on changing the EU treaty to ensure fair treatment of non-euro member states that decide to join the bank supervision mechanism.
These changes appear technical, but could well lead to new negotiations on a deal that people had hoped had been done. A diplomat pointed out that the changes do not challenge the balance of the agreement, but have come “very late” in the legislative process and he hoped they would not lead to delays of any longer than a month. Belgium, France, Greece and Italy have all expressed disappointment, but Germany claims that the initial timing of a vote at the EP at the end of April is still possible. Coreper will discuss the matter on Wednesday 10 April. It is not yet clear whether a new meeting of the EP/European Commission/Council of Ministers will be required. (MB/transl.fl)