PES Finance Ministers meet to discuss Banking Union




On December 10 the Party of European Socialists (PES) Finance Ministers met in Brussels ahead of the ECOFIN Council to discuss and coordinate their position in relation to the ECOFIN agenda.

The meeting was chaired by Finnish Deputy Prime Minister and Finance Minister Jutta Urpilainen. They discussed the steps that are still necessary to achieve a fair, stable financial sector that can absorb financial shocks without undermining public finances or putting the burden on citizens. The Ministers also used the opportunity to discuss the PES campaign for the 2014 European Elections.

The Chairwoman of the PES Finance Ministers meeting Jutta Urpilainen stated "Our aim is to create a well regulated financial system that encourages job-rich growth by providing credit to the real economy. We need a strong banking sector that can facilitate investment. To reach this aim we need an efficient and accountable Banking Union that emphasizes investor responsibility and protects citizens’ financial interests." Commenting on the PES campaign plan for the 2014 European Elections the Minister mentioned: "The European elections in 2014 will be decisive for the future of the European Union: to successfully achieve the reform of the Banking sector, to reverse the negative economic performance in Europe and to create job oriented economic growth."

The meeting was also attended by Jeroen Dijsselbloem, Dutch Finance Minister; Rimantas Šadžius, Lithuanian Finance Minister; Edward Scicluna, Maltese Finance Minister; Petar Chobanov, Bulgarian Finance Minister; Liviu Voinea, Romanian Budget Minister; Vazil Hudak, Slovakian State Secretary of the Ministry of Finance; and John Crombez, Belgian State Secretary for the Fight against Social and Fiscal Fraud.