The EESC expresses its firm support for the structural reform of the banking system. It considers the Commission's proposal for a regulation to be a valid and effective response aimed at separating commercial banking activities from investment activities.
The EESC supports and encourages a broad agreement to boost the economy and restore trust in the financial institutions, and calls on the Commission to promote a European Social Pact for Sustainable Finance.
Nevertheless, the EESC believes that the Commission should give greater attention to investors and employees, who have hitherto received little attention in the reform.
Besides, the EESC recommends that oversight activities be carried out in close cooperation and coordination between the EBA and the national authorities, which are well-acquainted with the markets and which will play a key role in managing the new reformed European finance.