Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-02-Speech-3-237-000"

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". Madam President, I will be brief, as I have expressed myself as sincerely and as clearly as possible. I have carefully weighed each word of my statement, which will be confirmed in writing in a letter that I have co-signed with Vice-President Šefčovič so that things are extremely clear. In response to each of your speeches, which I thank you for, I would simply like to mention three issues. The first issue concerns the independence and the authority of the chairpersons of the authorities. I am very pleased with, but not surprised by, the total commitment of Parliament, which is shared by the Commission, to defend this independence and this authority and to ensure that they are respected over time. It is crucial and it is what is important for the future, bearing in mind the multitude of tasks and the seriousness of the tasks that these authorities are going to face. Earlier, the issues of the rating agencies and the stress tests were raised. These are issues for which we are going to need the authorities and their credibility. This is the first point I wanted to make, on which Parliament and the Commission, of course, and, I hope and believe, the Council, can agree. The second point is that of the selection procedure. Ladies and gentlemen, I remember the discussions at the trilogues, where this procedure was the subject of numerous debates and, finally, of agreement among the co-legislators. It is what it is and it doubtless has its shortcomings. I personally brought in the rendez-vous clause to improve it. I have no reason – and I say this to you in all conscience – to think that it has not enabled good candidates to be selected. I have no reason to question the motives of the candidates chosen. After I had received the shortlists and met each of the candidates in person, I personally took responsibility for establishing an order according to what I felt, in all conscience, were the most useful and the most credible criteria. However, in order to find these good candidates, we relied on the lists given to us and the 275 applications from the regulatory authorities of the Member States. We have a rendez-vous clause to improve these procedures, which undoubtedly can be improved. But I would like to say, in all conscience, that, as far as I am concerned, I have no reason to say or to think that we have not selected good candidates, who are capable of living up to their responsibilities. Finally, there is a third point, which a number of you have raised, which is that of the level of representation of the authorities. The Commission will always ensure that this representation is in full compliance with the regulations and at the highest level. I would like to express my sincere thanks to the European Parliament for supporting us in this absolutely crucial issue, which is also one of the keys to credibility. Madam President, ladies and gentlemen, that is what I wanted to say, before we all retire to sleep on it, as a previous speaker said. That is what I wanted to give you as an assurance, as a concern, which I would like to express personally on behalf of all the Commissioners, for vigilance to ensure that these authorities succeed. This will provide genuine European supervision, which will not replace national supervisory authorities but make them work together more effectively, which will have its own powers when facing challenges and risks, which are now clearly transnational. We needed, and we now largely have, thanks to you, these three radar screens, these three authorities in addition to the European Systemic Risk Board. Ladies and gentlemen, it is now necessary for everyone to get swiftly to work because, frankly, I note that the markets are moving very quickly, much more quickly than us, in this, our time of democracy, and the authorities need to work very quickly."@en1

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