The European Parliament, which has long called for an increased conv
ergence of national supervisory practices and improvement of existing crisis management arrangements in the EU, therefore welcomes both ECOFIN Council Conclusions, and shares the view that a consistency between the evolution of going concern supervisory arrangements, both at
national and cross-border levels, and that of crisis management/ financial stability arrangements is needed. Having regard to the two ECOFIN Council Conclusions, and to the still-unfolding financi
...[+++]al crisis whose speed and pace has taken by surprise many market participants and supervisors, having regard to the threats the crisis still poses to the EU financial markets and to its spill-over into the EU economy, what does the Presidency consider as appropriate steps to be undertaken in this area in order to better respond to the challenges of globally integrated markets and to preserve the soundness and stability of the EU financial markets?