EP President Schulz told the European Commission on 20 July that his institution wants to have a say in a decision to suspend structural funds for Spain and Portugal, following the Council's decision of 12 July that both countries have failed to take effective action under the excessive deficit procedure. See the news coverage by Euractiv: http://www.euractiv.com/section/euro-finance/news/meps-step-in-to-ease-sanctions-over-deficit-rules/Read More..
News & Comments
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Following the Council decision of 12 July 2016 that both Spain and Portugal had under the excessive deficit procedure failed to take effective action in response to Council recommendations under article 126(8) TFEU, on 3 October a structured dialogue took place between the Commission and EP on one of the consequences of this decision, namely suspension […]Read More..
Read the statement by the European Commission's Vice-President Dombrovskis here. The European Parliament's press release reads: "Various ways to avoid or cushion the negative impact of austerity were debated in Tuesday's morning debate with Commission Vice-President Valdis Dombrovskis on EU economic priorities in 2017 and yearly “European Semester” economic policy coordination work. While some MEPs […]Read More..
The European Parliament's plenary on 17 December adopted a Resolution stating that more parliamentary oversight and public debate is needed to ensure democratic accountability and to get citizens on board. In the Resolution, prepared by MEP Roberto Gualtier, the European Parliament is calling for an Interinstitutional Agreement between the Commission, EP, Council and Eurogroup covering […]Read More..
During the EP's plenary session, a resolution prepared by MEPs Reimer Böge (EPP, DE) en Pervenche Berès (S&D, FR) was adopted on a budgetary capacity for the euro area. The resolution states the following principles: "The transfer of sovereignty over monetary policy requires alternative adjustment mechanisms such as the implementation of growth-enhancing structural reforms, the […]Read More..
The Conference of Presidents of the political groups in the European Parliament has decided on 2 December that the European Parliament will establish the structure and the process for the oversight of financial adjustment programmes, following an earlier request by Greek Prime Minister Alexis Tsipras for EP oversight of the Greek bailout programme. Greens/EFA president […]Read More..
The 2017 European Parliamentary Week included a European Semester Conference (for the exchange information on best practices in implementing the Semester cycles, and to strengthen cooperation in order to scrutinise the actions of the executive at national and European levels within the framework of the European Semester cycle) and an interparliamentary Conference on Stability, Economic […]Read More..
The European Parliament's Economic and Monetary Affairs Committee has adopted a critical resolution on the European Commission's plans on Completing Europe's Economic and Monetary Union. A debate in the EP's plenary is scheduled for 14 December.Read More..
Today, Vítor Constâncio presented the ECB Annual Report for 2016 to the Economic and Monetary Affairs Committee of the European Parliament. Read the ECB Vice-President's statement here.Read More..
See for more details the news coverage by Euractiv.Read More..
Read the statement by Commissioner Moscovici here (in French).Read More..
The European Parliament's Conference of Presidents is reported to have made further decisions on the EP's involvement in oversight of the financial assistance programme for Greece. The Economic and Monetary Affairs Committee will be tasked with the oversight, and is to be assisted by a Financial Assistance Working Group (FAWG) comprising 30 MEPs, which will […]Read More..
At the European Parliament, SRB chair Elke König discussed issues such as changes in the regulatory framework, the state of play of Minimum Requirements for own Funds and Eligible Liabilities (MREL) and the Single Resolution Fund. Read König's full statement to the European Parliament's Economic and Monetary affairs committee here.Read More..
16 February: European and National Parliaments debate democratic accountability in economic governanceFebruary 16, 2016
As part of the European Parliamentary Week, MEPs and members of national parliaments in the EU have debated ways to increase the democratic accountability of how the EU coordinates the economic policies of member states.Read More..
Questioned by the EP's Economic and Monetary Affairs Committee on Monday 15 February about the ECB's monetary policy, President Mario Draghi told MEPs: "Quantitative Easing and our monetary policy decisions worked. Almost half of the recovery over the last two years can be ascribed to our monetary policy. We have seen two years of gradual […]Read More..
After an invitation from Greek Prime Minister Tsipras, the European Parliament has created a Working Group within the ECON Committee, to strengthen its efforts to ensure a strong parliamentary scrutiny of financial assistance programmes. The first fact-finding mission of the ECON Working Group took place in Athens on 30 and 31 March 2016. The delegation […]Read More..
On 26 April a joint meeting of the Committee on Budgets and the Committee on Economic and Monetary Affairs held a discussion in preparation for the non-legislative report on a budgetary capacity for the Eurozone, a report that is meant to look at consequences for the EU budget, complementarities and parliamentary control. Read the draft […]Read More..
Read the introductory statement of ECB Vice-President Vítor Constâncio here.Read More..
At the public hearing of the European Parliament, Benoît Cœuré, member of the Executive Board of the ECB, made the following introductory remarks: "I am grateful to the two rapporteurs and to the two committee chairs for holding this hearing today to advance the public debate on a fiscal capacity for the euro area. We […]Read More..
On Monday 30 May a joint meeting of the Committee on Economic and Monetary Affairs Committee (ECON) and the Committee on Budgets (BUDG) of the European Parliament discussed a draft report by Rapporteurs Berès and Böge that identifies three functions for a fiscal capacity: convergence, absorption of asymmetrical and of symmetrical shocks. The rapporteurs identify […]Read More..
During a meeting of the Economic and Monetary Affairs Committe of the European Parliament review the Dutch Presidency of the ECOFIN Council, he remarked: "If we have an agreement between us, it is important that all of us comply. The role of the Commission is crucial when it comes to interpretation of flexibility rules and […]Read More..