Alfred Sant: Minflok noħolqu l-ġdid, qed niżbru l-qadim

Alfred Sant se jkun qed jinnegozja f’isem il-grupp tas-Soċjalisti u d-Demokratiċi (S&D) fil-Parlament Ewropew dwar proposta ġdida għal regolament Ewropew fl-qasam tas-servizzi finanzjarji. Imressqa mill-Kummissjoni Ewropea, il-proposta tara kif tissimplifika r-rapporti li jridu jagħmlu diversi organi Ewropej dwar ix-xogħol tagħhom biex jissorveljaw l-andament ta’ setturi tas-servizzi finanzjarji.

Bħalissa, awtoritajiet nazzjonali għas-sorvelja tal-entijiet finanzjarji f’pajjiżhom, l-awtoritajiet imwaqqfa għall-istess għan imma biex joperaw fuq skala Ewropea u korpi oħra huma mistennija taħt liġijiet Ewropej diversi biex joħorġu rapporti u jżommu statistika dwar xogħolhom li mbagħad trid titqassam ma’ istituzzjonijiet Ewropej. F’dan il-proċess, qed jidħlu ripetizzjonijiet, sistemi ta’ rapport dwar l-istess ħaġa li ta’ kultant iridu jsiru skont proċeduri differenti, u frewkenza żejda ta’ rapportaġġ. Ir-regolament il-ġdid jipprova jissimplifika dan kollu. 

Daħlu dubji dwar kemm l-abbozz tar-regolament li ħejjiet il-Kummissjoni Ewropea jista’ javvanza fil-ħin qabel jagħlaq il-mandat preżenti tal-Parlament Ewropew fix-xhur li ġejjin. 

Alfred Sant ikkummenta: “Naqbel mal-approċċ tar-rapporteur dwar dal-proġett ta’ regolament biex iwessa l-applikazzjoni tiegħu għal organi Ewropej li bħalissa mhux ikopri, bħall-Bank Ċentrali Ewropew. Biex ngħaddu t-test fil-ħin, irridu ngħaġġlu d-diskussjonijiet dwaru. Imma fl-aħħar mill-aħħar, dan mhux se jkun xi regolament fondamentali fil-ħidma li biha rridu noħolqu suq kapitali magħqud fl-Ewropa. Se jkun qed jikkoreġi r-riżultati ta’ ħidma li diġà saret. B’xorti ħażina, jidher li l-eżerċizzju li bih kellu jinħoloq suq kapitali magħqud fl-Unjoni Ewropea spiċċa f’ħafna każi wieħed li fih naraw kif se nnaqqsu l-burokrazija li ddaħħlet b’miżuri li ġew deċiżi fl-imgħoddi. Minflok noħolqu l-ġdid, qed niżbru l-qadim.”

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Capital Markets Union: We don’t break new ground, only prune what’s been done

On behalf of the S&D group in the European Parliament, Alfred Sant will be negotiating on a new proposal for a European regulation in the field of financial services. Presented by the European Commission, the draft regulation seeks to simplify the reports that a number of European institutions need to make regarding the monitoring that they conduct about the situation in financial services sectors.

At present, national authorities that monitor financial entities in their countries, authorities that have been established with the same objectives but are meant to operate on a European level and sundry other bodies are required under various European laws to publish  reports and to maintain data about their work which are then made available to European institutions. In the process, repetitions occur, reporting systems are run about the same issues by different bodies which at times need to follow different reporting methods, and some reporting requirements are too frequent. The new regulation sets abut simplifyng all this.

Doubts have been expressed about whether the draft regulation prepared by the European Commission can make sufficient progress before the current mandate of the European Parliament expires in a few months’ time.

Alfred Sant’s comment: “I agree with the rapporteur’s approach in trying to widen the scope of application of the regulation to European organs that the draft does not cover, such as the European Central Bank. To process the text in time we need to carry out quick discussions. But at the the end of the day, this is not such a fundamental text in the work needed to build a capital markets union in Europe. It will just be correcting the outcomes of work that’s already been done. Unfortunately it seems as if the exercise that should have led to the establishment of a European  capital markets union has ended up in many cases  as one that seeks to reduce the bureaucracy that has crept in as a result of measures adopted in the past. Instead of breaking new ground, we’re having to prune what’s old.”