The Economic and Monetary Affairs Committee celebrated on 3 of September a meeting with European Central Bank President Mario Draghi and Commissioners Michel Barnier and Olli Rehn in which MEPs extracted the leading players'  views, to help prepare their stance on the future economic governance paper. Moreover, MEPs raised their concerns about the design of a strengthened Eurozone bank supervision regime.

ECB President Mario Draghi and Commissioners Michel Barnier and Olli Rehn answered MEPs questions in a meeting celebrated on 3 of September by the Economic and Monetary Affairs Committee in the European Parliament. MEPs focused on the most immediate actions needed to tackle the crisis: the forthcoming Commission proposal on bank supervision, and options for ECB market intervention measures. The Council reached a general approach on bank capital rules with a view to negotiations with the European Parliament in May 2012.

With regard to the design of a strengthened Eurozone bank supervision regime, MEPs raised two key concerns about it. Firstly, they stressed the need to ensure seamless coordination between supervision of non-Eurozone banks, which would remain under the European Banking Authority (EBA), and supervision of Eurozone banks, which should henceforth be monitored by the ECB. The general warning was that design faults could lead to banks being supervised differently. The second concern was related to the proposed procedure for achieving final approval of the legislation - i.e. unanimity of Member States without a co-deciding role for Parliament.

MEPs pressed Mr Dragui to explain how, specifically, the ECB should take on the role of bank supervisor, to what extent it should enter into daily supervision and how it would liaise with national supervisors.