Later this morning, the European Parliament’s @EP_Economics will vote on a report I worked on about how to we can advance work on a real Banking Union in Europe. We have seen upheaval in global banking over recent weeks, especially in the US and Europe. We need to take action 1/
🐦🔗: https://n.respublicae.eu/FitzgeraldFrncs/status/1650768966367805441
Europe needs to ensure that banks have appropriate levels of supervision, that robust buffers are in place, and that taxpayers are not on the hook for bank failures.
Customers also need more choice and better access to mortgages and credit for first-time buyers and businesses 2/
🐦🔗: https://n.respublicae.eu/FitzgeraldFrncs/status/1650770364081872897
With the departure of Ulster Bank and KBC, Ireland has the fewest retail banks in Europe. This is not good for customers and competition. Banking Union should be about boosting competitiveness and opening up more options for customers 3/
https://www.buzz.ie/news/irish-news/retail-banks-ireland-boi-aib-27303354
🐦🔗: https://n.respublicae.eu/FitzgeraldFrncs/status/1650772704511905793
Looking forward to voting on this report and others today at ECON with @EPPGroup @AnnaAsimakopoul @DrStefanBerger @danutahuebner
🐦🔗: https://n.respublicae.eu/FitzgeraldFrncs/status/1650774415804706817
Report passed ✅
A strong endorsement by the Committee and a huge majority 6/
🐦🔗: https://n.respublicae.eu/FitzgeraldFrncs/status/1650781083393306624
Ultimately, Banking Union will not be complete without agreement on common protection for bank deposits across Europe and updated rules on crisis management. This is still a contentious issue but one on which Minister @Paschald as Eurogroup President has shown real leadership 4/
🐦🔗: https://n.respublicae.eu/FitzgeraldFrncs/status/1650773455757885440