Sant jappella biex l-Iskema Ewropea tal-Assigurazzjoni tad-Depożiti tidħol fis-seħħ f’qasir żmien

Fl-intervent tiegħu dwar ir-Rapport Annwali tal-Unjoni Bankarja għall-2023 fil-Kumitat tal-Parlament Ewropew għall-Affarijiet Ekonomiċi u Monetarji (ECON), l-eks Prim Ministru Alfred Sant enfasizza dwar in-nuqqas ta’ direzzjoni biex ikun deċiż dwar l-implimentazzjoni ta’ policies tal-banek Ewropej. “Eżempju ċar ta’ dan huwa t-trattament marbut mat-tnaqqis tar-rabta bejn id-dejn sovran u l-banek. Minkejja l-approċċ ġenerali huwa wieħed korrett, l-applikazzjoni tiegħu għal membri li jinsabu f’żoni periferali tal-Unjoni Ewropea fuq skala żgħira tista’ tirriżulta bħala waħda perikoluża”, huwa innota.

Ir-rabta bejn id-dejn sovran u l-banek tirreferi għall-interkonnettività u r-riskji potenzjali bejn il-gvern sovran u l-banek fi ħdan is-sistema finanzjarja tal-Unjoni Ewropea. It-tlestija tal-Unjoni Bankarja hija meqjusa bħala pass kruċjali biex tiġi indirizzata r-rabta bejn il-banek sovrani u tiġi evitata li “azzjoni negattiva twassal għal azzjoni negattiva oħra”, fejn problemi finanzjarji f’settur wieħed jistgħu jkollhom impatt negattiv fuq l-ieħor. Dan se jsaħħaħ l-istabbiltà finanzjarja u jnaqqas ir-riskju ta’ assistenza finanzjarja iffinanzjata minn dawk li jħallsu t-taxxa.

Alfred Sant qabel mal-benefiċċji multidimensjonali li se twassal għall-żvilupp sħiħ tal-unjoni bankarja permezz tal-istabbiltà u inqas spejjeż għall-klijenti fost oħrajn. Madanakollu, huwa saħaq li r-Rapport ma jqisx il-ħtieġa li l-Unjoni Ewropea tiżviluppa unitajiet bankarji globalment kompetittivi li kapaċi jikkompetu ma’ l-Istati Uniti u ma’ organizzazzjonijiet kbar u b’saħħithom. Il-mistoqsija li għad trid tiġi mwieġba, sostna Sant hija jekk l-assorbiment minn amalgamazzjoni akbar tal-biċċa l-kbira tal-banek iż-żgħar tal-Ewropa huwiex aċċettabbli.

Il-MPE Laburista qabel mas-sejħiet fir-Rapport għat-tlestija tal-unjoni bankarja u t-twaqqif urġenti tal-Iskema Ewropea tal-Assigurazzjoni tad-Depożiti (EDIS). Dan jiggarantixxi fuq bażi Ewropea lid-depożitanti kollha rifużjoni sħiħa tal-flus tagħhom jekk bank Ewropew li jiddepożita l-flus tagħhom ifalli. Huwa appella għall-introduzzjoni f’qasir żmien tal-EDIS biex jissaħħaħ l-impenn għal sistema bankarja Ewropea b’saħħitha u reżiljenti.

Ir-Rapport ġie adottat bi 372 vot favur, 155 vot kontra u 132 astensjoni. Alfred Sant ivvota favur.

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Sant calls for swift introduction of the European Deposit Insurance Scheme

In his intervention on the Banking Union annual Report for 2023 at the European Parliament Committee on Economic and Monetary Affairs (ECON), former Prime Minister Alfred Sant highlighted the insufficient lee-way allowed for the flexible implementation of banking policies on a European basis. “A case in point is the treatment regarding the roll-back of the sovereign debt-bank nexus. Correct as the approach is overall, its application to small-scale, peripheral members of the European Union could prove toxic”, he warned.

Sovereign debt-bank nexus refers to the interconnectedness and potential risks between sovereign government and banks within the European Union’s financial system. The completion of the Banking Union is seen as a crucial step to address the sovereign-bank nexus and prevent a “doom-loop”, where financial troubles in one sector could negatively impact the other. This will enhance financial stability and reduce the risk of taxpayer funded bailouts.

Alfred Sant agreed with the multifaceted benefits that a fully developed banking union would bring including stability and lower costs for customers. However, he stressed that the Report does not take into account the need for the European Union to develop globally competitive banking units able to compete with US major banks and other bank behemoths. A question that still needs to be answered, Sant claimed is whether the absorption by larger conglomerates of most of Europe’s smaller banks is acceptable.

The Labour MEP concurred with the calls in the Report for the completion of the banking union and the urgent establishment of the European Deposit Insurance Scheme (EDIS). This will guarantee on a European basis to all depositors a full refund of their money should a European bank they deposit their money to would fail. He called for the swift introduction of EDIS to reinforce the commitment to a robust and resilient European banking system.

The Report was adopted with 372 votes in favour, 155 votes against and 132 abstentions. Alfred Sant voted in favour.