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Tuesday, 06 July 2010

Chastel presents priorities for the Belgian Presidency programme

On 5 July, State Secretary Olivier Chastel presented the programme for the Belgian Presidency of the Council of the European Union to the Conference of Community and European Affairs Committees. The COSAC is a cooperation that brings committees of the national parliaments dealing with European affairs together with the European Parliament representatives. These meetings are mostly held in the capital city of the country that is fulfilling the role of the EU presidency.“We will concentrate on 6 main priorities for Europe,” declared Olivier Chastel to the attendees. The first concerns the way out of the crisis and the return to economic growth. The Belgian Presidency will pay particular attention to the legislative initiatives that aim to strengthen the supervision of the financial sector. Next to this, for Olivier Chastel, “the establishment of the European Systemic Risk Board and the European System of Financial Supervisors, that must control the banking sector, the insurance sector and the financial sector via three supervisors, is very urgent.” The proposal for a directive regarding investment fund managers, to regulate the so-called hedge funds, is also urgent.

Source: Belgiona EU Presidency