MEP in favour of economic protection of SMEs and taxpayers

MEP Marlene Mizzi has voted in favour of a report that protects taxpayers' money and provides mechanisms with which economic issues can be tackled before they get out of hand.

The report was made by Elisa Ferreira, an S&D representative and chairman of the committee, proposes a Single Resolution Mechanism and Single Bank Resolution Fund. This would, among other things, protect consumers from fallouts like the one that followed the 2008 Lehman Brothers collapse, which saw €4,500 billion in public funds being used to bail out the European economy.

"As the S&D's vice president and representative for the economy, I am very satisfied with this result because it means that consumers and SMEs will no longer pay for mistakes made by banks, as happened a few years ago," Mizzi said.

"Every taxpayer will benefit from the EU being more prepared andefficient, with less risk of political interference."