Informal Meeting of Ministers and Governors, 12 April 2013
Declaration by Member States
"The Member States reaffirm their commitment to the urgent completion of all the agreed elements
of banking union, as set out by the European Council, in particular in its Conclusions of 13/14
December 2012.
Whilst respecting the integrity of the single market and with reference to Recital 45(a) of the
Regulation and the Commission's Communication of 28 November 2012 on a Blueprint for a deep
and genuine economic and monetary union, Member States declare that they are also ready to work
constructively on a proposal for Treaty change made in accordance with provisions of Article 48
TEU. Should Article 127 paragraph 6 TFEU or other relevant Treaty provisions be amended the
current Regulation should, if necessary, be appropriately adjusted."
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For reference, recital (45a) of the SSM-regulation
(45a) The Commission has stated in its Communication of 28 November 2012 on a Blueprint for a
deep and genuine economic and monetary union that "Article 127 paragraph 6 TFEU could be
amended to make the ordinary legislative procedure applicable and to eliminate some of the legal
constraints it currently places on the design of the SSM (e.g. enshrine a direct and irrevocable opt-in
by non-euro area Member States to the SSM, beyond the model of "close cooperation", grant non-
euro area Member States participating in the SSM fully equal rights in the ECB's decision-making,
and go even further in the internal separation of decision-making on monetary policy and on
supervision)". It has also stated that “a specific point to be addressed would be to strengthen
democratic accountability over the ECB insofar as it acts as a banking supervisor”. It is recalled that
the Treaty on European Union provides that proposals for treaty change may be submitted by the
Government of any Member State, the European Parliament, or the European Commission, and may
relate to any aspect of the Treaties.