News

Banking union: the crowning achievement of my career

Corien WORTMANN-KOOL
15.04.2014 - 13:00
Corien Wortmann-Kool MEP

This week the European Parliament approved the final building blocks of the Banking Union. European supervision of banks and European rules on tackling failing banks will help our economy to recover.

For many days - and nights! - I negotiated on behalf of the EPP Group and the Parliament on the Banking Union package. In the final stages, we even had a 17-hour long marathon session with the President of the Eurogroup, Mr Dijsselbloem.

Personal goals and women power

Most of the negotiators from other parliamentary groups were women. In a sector traditionally dominated by men, the fact that we pushed through one of the most important and difficult pieces of legislation of the last 5 years is a great example of ‘women power’.

I am so glad our efforts worked out well.

My personal goal was to finalise the Banking Union before the end of the Parliamentary term this summer. So our successors would not have to deal with this dossier all over again Corien Wortmann-Kool MEP

My personal goal was to finalise the Banking Union before the end of the Parliamentary term this summer. So our successors would not have to deal with this dossier all over again.

I am proud that we managed to achieve a good agreement. My EPP Group colleagues played a key role in bringing the negotiations on the different building blocks to a good end.

Restoring trust and saving taxpayers’ money

Most importantly, thanks to the Banking Union, the taxpayer's money is now better protected. We have made sure that bank shareholders and investors will foot the bill of any future banking crises.

The Banking Union will help to restore trust in the banking sector, improve lending to companies and therefore create more jobs across the EU - a key concern for the EPP Group

The Banking Union will also bring concrete benefits to all European citizens. It will help to restore trust in the banking sector, improve lending to companies and therefore create more jobs across the EU - a key concern for the EPP Group.

It will also mean better access to credit for households, and citizens can now trust that their saving accounts are always protected up to 100 000 euros.

Looking back at my 10 years as an MEP and Vice-Chairwoman of the EPP Group, this Banking Union is certainly an achievement that crowns it all.

We believe in people. #believeinpeople

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