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European Parliament euro zone


This week’s European Parliament full sitting in Strasbourg placed financial questions at the heart of debate. The members — MEPs — intend to have their say on a financial market supervision package which will be put to a vote in June. Sylvie Goulard is with the Committee on Economic and Monetary Affairs.

“We have to watch out for caricature. The markets have a responsibility. They have to be better controlled. But those euro zone member states also have a responsibility who have not respected the treaty that says the euro is a common responsibility. This is a political commitment by choice, and we haven’t seen the last of the consequences.”

Some MEPs have argued that the Parliament should have been more closely involved in the setting up of the support mechanism.

“The crisis has shown that national supervisory bodies, be they central banks or independent authorities, have worked together very little. We have to be very ambitious, and the European Parliament has just adopted an economic and monetary position which is much more ambitious than that of the Council. We want to confront the Council with its responsibilities and say: this is what we’ve lived through in 2008, 2009… Seeing what we’ve been through, can we really do without European financial supervisory tools.”

Sylvie Goulard appears in an Agora debate on Euronews this weekend.

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