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European treaty

Published on October 10, 2012
Reply given by Bernard Cazeneuve, Minister Delegate for European

Affairs, to a question in the National Assembly (excerpts)

Paris, October 9, 2012


You’ve asked us – a few minutes before the vote on the reorientation of the Europe policy conducted by the government – to define the guidelines we intend to promote in the coming months and years.

We very clearly have three goals. (…)

The first goal is to focus European policy on the ambition for growth. I won’t go back on the growth pact decided at the European Council in June. This ambition for growth must be pursued through the discussion under way on the European Union’s Financial Perspectives, which in the coming years must enable us to mobilize €1,000 billion for the challenges represented by the Common Agricultural Policy and the Cohesion Policy. (…)

Because we want a good budget for the EU, we don’t intend to make systematic, deep cuts, and we hope the financial transaction tax will in the future become an own resource in the EU budget, so that this budget is dynamic.

Secondly, we’d like to restore order to finance. We have considerable challenges ahead of us if we don’t want speculation – which in the past has undermined growth and destroyed the real economy – to continue its harmful work. That’s why we’ll carry through banking supervision. And – I’m addressing the Assembly and German MPs – we’d like all banks to be supervised by the European Central Bank, because it’s the condition for restoring order to finance.

Finally, we’d like banking supervision to be the first stage in the creation of a banking union – in other words, we’d like to be able to continue by resolving banking crises and establishing a genuine deposit guarantee scheme. Lastly, we want more solidarity, and if more solidarity justifies more political union, we’re ready to move in that direction./.

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