Mr. Aidan Carrigan:

Proposing a single supervisory mechanism across 17 member states raised a concern at EU level that the banking authority balance which had existed across 27 member states with 27 different positions would be upset. Those not in the single mechanism were concerned that there would not be a voting block of 17 member states which could consistently outvote those outside. It was important therefore to amend the European banking authority voting modalities to achieve a more balanced voting arrangement between those inside and those outside the mechanism.