The Chairman of EPP Group has called on the governments meeting tomorrow to honour their commitments. Leading the plenary debate on the preparations for the European Council meeting (13-14 December 2012), Joseph Daul stressed that there can be no real economic and monetary union without the supervision that goes with it.We are all dependent on each other. Banks are no longer regional or national. They are European and global. It is the French and German banks that hold a lot of Greek sovereign debt. A bank cannot be considered too big to fail yet too small to be regulated. This is why we support the Banking Union proposal”, said Joseph Daul.
The Chairman of the largest political Group in the European Parliament underlined that each Member State must show responsibility: „On Monday, we received the Nobel Peace Prize. This is the result of a legacy of which we must prove ourselves worthy, so that in the next 60 years, this legacy is passed on to future generations. We must have the courage today to take a new step forward. Two stages are within our reach. The first one is to proceed with the Banking Union which will complete our Economic and Monetary Union. The second is to reach agreement on the Multiannual Financial Framework. We need real decisions at European level. And the Parliament must fully assume its role as co-legislator.”
