Banking supervisor faces questions from MEPs

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The nominee to become the first head of the EU's new banking supervisory agency has held her confirmation hearing with MEPs.

Daniele Noury has been put forward by the European Central Bank to lead the Supervisory Board of the Single Supervision Mechanism (SSM).

On 27 November 2013 she was questioned by the Economic Affairs Committee over her plans for the role, which is due to take effect in early 2014.

The SSM - which will come under the auspices of the European Central Bank - will scrutinise the biggest banks in the eurozone, to ensure there is no repeat of the sovereign debt crisis which crippled the currency bloc in recent years.

Ms Noury, who is currently a senior official at the Bank of France described herself as someone with "enthusiasm and passion for Europe", and that Europe had failed to speak with a "consistent voice".

On questioning from Portuguese MEP Elisa Ferreira, Ms Noury admitted that she would prefer the SSM to have responsibility for all the banks in the eurozone, not just the "significant" ones.

The creation of the SSM is the first of three steps towards creating a banking union.

The next two elements, setting up a joint deposit guarantee scheme and an authority to restructure or wind down banks, are still some way from being agreed upon.

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