The establishment of the EBA, EIOPA and ESMA and the subsequent closer coordination of financial supervision is reasonable. Technical standards can minimise the distortion of competition and improve the quality of supervision. The authorities should, however, not be responsible for the application of EU supervisory rules. Besides, the EBA's role as arbitrator is not compatible with the activities of supervisory colleges. Finally, in emergency situations the ESA do not have sufficient power to be effective.
The plans for an EU space strategy are insufficient: the Commission does not explain how to fund the measures. It further fails to demonstrate the benefit created by having its own EU space strategy compared to that of the activities by the European space agency ESA. Satellite navigation systems, such as GPS together with EGNOS, increase the efficiency of the transport sector.