The European Commission has published the opening remarks of Commission President Barroso at the press conference presenting the Commission’s contribution to the Spring European Council.
In his opening remarks President Barroso refers to the Commission’s communication on the de Larosière Group report stating:
“Today we have set out a detailed roadmap towards a European system of supervision. A system where ethics are taken into consideration. Where people can be sure that those to whom they have entrusted their money are properly regulated. The Commission today broadly endorses the de Larosière report recommendations, and sets out how to take them forward. As you know the European Commission took the initiative to create that High Level group on regulation and supervision and now we have decided to endorse in general the conclusions of that very important piece of work. We will present a European financial supervision package by the end of May, based on these recommendations."