News

The hearing of the possible new Commissioner in charge of the Internal Market takes place today in the European Parliament. Following the calendar of the appointment process, Mr. Michel Barnier answered several written questions made by members of the European Parliament. As regard to his possible future orientations, the former Regional Policy Commissioner (1999-2004) considers the reform of the financial system as one of his three top priorities.

The Commissioner-designate for the Internal Market and Services intends to complete the supervision reforms in Europe, The setting-up of the three new authorities under optimum conditions within this area will be a key-measure of his mandate.

Measures concerning the quality and the level of the banks' equity capitals will also be part of his programme, as well as an important reform within the insurance sector, notably through the application of the 'Solvency II' Directive.



Other fields will be in-depth considered:



- New initiatives to develop responsible lending;

- Improving the situation of the savers: better informed and better advised;

- Reporting on the implementation of the Commission Recommandation on remuneration policies in the financial services sector;

- Review of the Capital Requirement Directive (CRD4).



The hearing of Mr. Barnier takes place in the European Parliament today at 4.30pm.