The many objections to these two directives are being addressed in the only way possible, by scores of amendments by members of the European Parliament's committeeoneconomicandmonetaryaffairs.
Speaking to the EconomicandMonetaryAffairsCommitteeon 4 October 2011 he said that economicandmonetary union had provided stability and low inflation for over a decade.
However giving its opinion on the proposals, the European Parliament's EconomicandMonetaryAffairsCommittee has said that the proposals should be made compulsory, rather than simply optional.
MEPs debated a report on 6 October 2010 by the European Parliament's EconomicandMonetaryAffairsCommittee ahead of the Commission's formal response to the Basle agreement.