News

On 19th September 2013 the Lithuanian Embassy in London and the City of London Corporation hosted a conference on the future of the integrated European Banking Union.

The conference ‘Integrated European Banking Union’ was held at Ironmonger’s Hall in the city of London.  The event was opened by the Lithuanian Minister of Finance Mr Rimantas Šadžius, the Minister of State for Europe The Rt Hon David Lidington MP and the Policy Chairman at City of London Corporation Mr Mark Boleat. Representatives of the Lithuanian Central Bank, the Bank of England, the European Banking Authority as well as the European Commission shared their views on issues such as Single Resolution Mechanism, Resolution and Recovery Directive and Deposit Guarantee Schemes Directive.

In his welcoming speech, the Minister of Finance of Lithuania Mr Rimantas Šadžius said: „The Lithuanian Presidency gives an absolute priority to all files related to the Banking Union and will seek to come to a final agreement on the Bank Recovery and Resolution Directive and Deposit Guarantee Schemes Directive and to reach a general approach on the Single Resolution Mechanism so that the final agreement between co-legislators is reached by the end of this political term”.

Policy Chairman at City of London Corporation Mark Boleat said: “The creation of a banking union is an essential element to underpin the stability to the euro zone but it must not undermine non-discriminatory access to the Single Market by all Member States, eurozone and non-eurozone. We therefore welcome both the considerable progress that has been made on the Single Supervisory Mechanism and the significant safeguards for those Member States outside the eurozone that will not be part of the banking union.”