Even though progress was made following the financial crisis and it has since been widely recognized that banks across Europe should no longer be able to rely on tax payers’ money to protect them from the consequences of their risky behaviour, the European Commission’s latest proposal took many by surprise. The proposal suggests that the contributions to the bank rescue funds should be calculated mainly on the basis of banks' balance sheets rather than according to the riskiness of their behaviour.
In reaction to this proposal, Sven Giegold, Green MEP, in cooperation with Green colleagues Philippe Lamberts, Molly Scott Cato, Bas Eickhout and Ernest Urtasun, initiated a campaign calling for contributions to the rescue fund to be proportional to risk. To this end the Greens launched a website explaining their campaign and publishing important papers elucidating in plain English what is actually being stitched up in technical language.
To raise awareness, the Greens call on people to act and protest against it by sending an email to the Commissioner for the Internal Market, Michel Barnier.
Please find all the information on the above mentioned website.