SIFMA Urges U.S. And EU Leaders To Make TEC A Priority At Summit

The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement as President Bush travels to Europe to meet with European leaders at the U.S.-EU Summit in Slovenia tomorrow.

“While they meet in Slovenia for the U.S.-EU Summit, SIFMA respectfully urges U.S. and European leaders to make the Transatlantic Economic Council (TEC) a top priority on their agenda,” said David Strongin, SIFMA managing director. “Specifically, SIFMA believes the Summit provides leaders with an excellent opportunity to give impetus to moving the TEC forward.”

“Our hope is that the U.S.-EU Summit will act as a catalyst for further gains in reducing cross-border trade barriers. SIFMA is extremely supportive of the TEC’s progress towards economic integration and regulatory convergence, but would like to see more tangible accomplishments to ensure continued viability of the TEC. In this regard, it is essential that each side follows through on its commitments to the TEC with concrete actions that give effect to those commitments. We urge policymakers on both sides of the Atlantic to move forward expeditiously on fulfilling the mission of the TEC,” added Strongin.