S&D Group to Back Appointment of New European Supervisors

S&D Euro MPs will back the appointment of the three financial authorities’ chiefs during a vote later today in the European Parliament in Brussels.

Said S&D spokesman for economic and monetary affairs Udo Bullmann: “Although we did not get the glamorous rock stars of finance we were expecting, we have no reason, following their hearings this week in front of the economic and monetary committee, to doubt their abilities to do the job.

“We are in favour of a strong system of European financial supervision. We stress the need for the new financial supervisory authorities to have the means to do their job in full transparency and independence. We take note of the commitment from the European Commission and the Council to make sure of this.

“We do not want to be dragged into the strategy of other groups who want a symbolic rejection of one nomination.”