Bank reform : Attempt to break logjam in EP

The political group coordinators in ECON will meet on 11 June to decide the next steps in the negotiations

Édition Pouvoirs
Manon Malhère
10 juin 2015 à 17h32

After the chaotic vote on 26 May, in which members of the Committee on Economic and Monetary Affairs (ECON) rejected the report by Gunnar Hökmark (EPP, Sweden) on bank reform, which  potentially attacks the structure of too-big-to-fail European banks, it is time for further discussion. The committee's political group coordinators plan to meet on 11 June in Strasbourg. They have to agree on how to resume the negotiations so that they can make another attempt to work out a compromise.…

Background

Under the draft regulation presented by the European Commission in January 2014, supervisors will be able to require certain large European banks (considered 'too big to fail') to place their risky trading activities in a separate structure from their retail operations. After more than 20 meetings, ECON members failed to put together a comprehensive compromise on the text. On 26 May, they had to vote on three compromise packages: one submitted by the EPP, ALDE and ECR groups; another by the Greens, EUL and EFDD; and a third by the S&D group. The result was a chaotic vote ending with rejection of the Hökmark report. The EP consequently still has no position on the proposal.
par Manon Malhère

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