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At a high level, this committee aims to stimulate growth and, thereby, increase jobs across Europe by promoting stability and investment. It advocates a free but responsible financial market that operates within a clear legal framework.
We successfully pushed for greater fiscal discipline in Europe to avoid public debt spinning out of control. We were also the driving force behind reforms aimed at increasing competitiveness, advocating more pooling of financial resources among the EU Member States.
With irresponsible lending practices by banks, poor management and insufficient regulation of the financial sector having triggered past economic and financial crises, the EPP Group pushed hard for the creation of three new European control bodies to supervise banks, financial markets, pension funds and insurance companies. We now need to ensure legislation on banking reform, financial crime and to promote investment that is properly implemented. We will continue pushing to mobilise private investment.
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