BRUSSELS, May 15. (EUROPE PRESS) –
The First Vice President and Minister for Economic Affairs, Nadia Calviño, stated this Monday that she expects progress, particularly in the second half of the year, during the Spanish presidency of the Council, with regard to the European Deposit Guarantee System (EDIS, for its acronym in English) because it is the “missing” piece in the Banking Union.
“From the beginning we have supported the creation of this instrument for the benefit of the citizens of the entire EU, starting with those of Germany and Austria”, said the minister upon her arrival in Brussels to participate in the meeting of Ministers of Economy and Finance of the eurozone, the Eurogroup, referring to some of the most reticent member states.
This pending pillar to complete the Union is an initiative to protect at the European level the first 100,000 euros of bank deposits in cases of liquidation, although the debate around the proposal that the Commission presented almost eight years ago remains frozen.
However, Calviño, who hopes to find a way to bring positions closer to this file in the coming weeks, hopes to have possible solutions and proposals on the table that will allow the euro countries to reach the “necessary consensus” to make progress in an area that he considers “important” for the stability of the financial system of the EU and of the Banking Union.
“We have a common interest in strengthening the banking Union in the creation of common deposit guarantees and the benefit of citizens, also in Germany”, stressed the minister, while recalling, in response to the narrative about the weakness of some European banking systems, the “great transformation” and the “profound restructuring” that Spanish banks have undergone in recent years, which has made its banking sector “one of the most solvent and strong”.
