Mercredi 23 novembre 2016

Press release – Group S&D

The European Parliament today warned the Basel committee that the overall requirements for banks – the so-called Basel IV – should not undermine the competitiveness of European banks.

S&D Group spokesperson on economic and monetary affairs, Pervenche Berès said:

“For the socialists and democrats, it is paramount that banks are an efficient component of our economy and not an element of risk. Banks need to be well capitalised in order to support the real economy, reduce systemic risks and avoid the repeat of the enormous bailouts witnessed during the crisis.

“The undergoing work at the Basel committee should promote a level playing field at the global level by mitigating – rather than exacerbating – the differences between the European and US banking models. We want to use the new prudential banking rules proposed today by the European Commission and the ongoing Basel work to restore lending capacity to the real economy, to strengthen the banking system making it profitable in the longer term and to meet the international requirements with a way of ensuring fair global competition.”