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7 December 2022
General Affairs News

Minister Delegate for European Affairs George Ciamba attends the conference on “Corporate Governance as the Enabler of Sustainable Growth”, on the occasion of the 23rd edition of the European Corporate Governance Conference, organised under the auspices of the Romanian Presidency of the Council of the European Union

Today, April 2, the minister for European affairs, George Ciamba, spoke in the opening session of the conference on “Corporate Governance as the Enabler of Sustainable Growth”. The official welcomed the event, as well as the selected topic, as relevant in the context of the increased competition across the world and the growing challenges in achieving smart, sustainable and inclusive growth in the EU.

Minister George Ciamba pointed out that corporate governance remained one of the key elements of sustainable business growth and that sustainable growth could result in higher competitiveness.

The minister for European affairs also referred in his speech to the achievements of the Romanian Presidency of the EU with respect to mitigating the risks in that field. In connection to the Banking Union, George Ciamba recalled that the Romanian Presidency and the European Parliament concluded a final agreement comprising a set of revised rules aimed at reducing the risks faced by the European banking sector.

The minister also highlighted that, after years of tough negotiations, the Romanian Presidency made progress on the revision of the European System of Financial Supervision, which would strengthen the supervisory architecture of the financial system. “To ensure the stability of the Union’s economy, to protect it from potential shocks, to provide it with the adequate mechanisms that would boost its resilience – they all remain the priorities of a more robust Economic Union, across all its dimensions. Considerations of the environmental and social welfare impacts are additional key elements for a smart, sustainable and inclusive growth”, added Minister George Ciamba.

The minister also raised the issue of the impact that Brexit might have on the economy of the European Union. “Let us bear in mind that Brexit is a traumatic event, that the world after Brexit, both in the EU and in the UK, will be a world requiring a much stronger focus, more public governance and more corporate governance. Many of the things that were said in the campaign before the referendum were rooted in disinformation. We should not forget that much of the discussions turned around the huge money that would stay in the United Kingdom if it left the Union. I believe that it was an important argument, but there was no reaction to it, the business environment did not respond in any way and the British government did nothing to counter those erroneous statements”, Minister Ciamba emphasised.

In his conclusions, the dignitary pointed out that the future of the EU could only be built on sustainable economic foundations that could support its position in the global arena and enable it to play a leading role in the world.

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