Name: Public session - Economic and Financial Affairs Council
Uploaded: 2026-06-12T09:45:42+00:00
Duration: 10721 s
Description: Video from the Economic and Financial Affairs Council of the Council of the European Union

00:05 - 02:07

Intervenant 2

Significant institutional changes to the EU supervisory framework are envisaged, notably a shift towards enhanced direct supervisory responsibilities for the European Securities and Markets Authority, ESMA. This continues to require engagement at our level. Two issues in particular stand out as especially sensitive. Firstly, the scope of ESMA's direct supervision and secondly, the new proposed governance model of ESMA. I would also like to take this opportunity to thank all member states for their valuable and constructive engagement throughout the negotiations so far, including through written comments and additional non-paper submitted.

The E6 initiative is also a useful contribution to the broader European efforts and discussions on the advancement of the savings and investment union, always within the framework of common European processes. We have carefully considered the material submitted, reflecting the engagement of the member states and the importance of this file for the union as a whole. Therefore, for today's discussions, we have prepared a steering note with four questions on these important aspects of the package. We would appreciate if you could focus your interventions on those specific questions so as to provide clear guidance for the next phase of our work. Without further delay, I look forward to your interventions.

I will first invite the commissioner to take the floor. Maria Luis, please, the floor is yours.

02:07 - 02:54

Intervenant 1

Thank you. And first, I would like to thank the Cypriot presidency for its excellent work in advancing this decisive file. And Demakis, many thanks to you and your team for all your efforts, for not shying away from the difficult discussions and for keeping our common high level of ambition and the package integrity. I am sure your efforts in discussing all the relevant and sensitive technical details will pave the way to a successful outcome in the next few months. Dear ministers, in March, our leaders called for the adoption of the market integration and supervision package by the end of this year.

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