Video viEUws.eu: EU bank structural reform: "not enough to prevent financial crisis" argues lead MEP Gunnar Hökmark - Main contents
MLex correspondent John Rega is joined by Swedish MEP Gunnar Hökmark (EPP) - the European Parliament’s rapporteur on the bank structural reform - to discuss what is needed for effective reform and whether it could prevent another financial crisis from happening in Europe.
On 7 January, Hökmark published a draft report on the Commission’s proposal for the Bank Structural Reform (BSR) which should contribute to preventing another crisis. His report suggests some significant changes to the proposed regulation, on which he elaborates in this interview. “ Banks should have proper and strong regulation, but they should also be able to lend money” underlines Hökmark. The rapporteur also claims that “if we cannot get the European banking system to work, we will face increased unemployment, ongoing severe crises and new financial difficulties“. Furthermore, Hökmark sketches out what is necessary to stabilise the EU’s financial sector in general. According to him, under-investment is the predominant problem in Europe, with the lack of investment ranging between 400 and 700 billion euro.
Bank structural reform: “not enough to prevent another financial crisis” argues lead MEP Gunnar Hökmark tweet