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► The next ECON Committee meeting : Calendar of meetings 
 
► Reports voted in ECON (provisional versions)
 
In order to increase the public awareness of the reports voted in ECON, provisional versions of Reports will be made available to the public in Reports voted in ECON until the on-line publication in Documents : Reports.
 
► Latest studies requested by the Committee:
 
 
► Press releases :
 

 
Further information
 
 
Highlights
 
Open Surveys on the Review of the European Supervisory Authorities

Mazars is conducting three online surveys regarding the review of the European Supervisory Authorities (EBA, ESMA and EIOPA, respectively) with a view to gain input from stakeholders and the interested public on the set-up and activities of these authorities. The feedback will provide input for a study on the ESAs which Mazars carries out for the European Parliament's Economic and Monetary Affairs Committee. Given the forthcoming review of the European System of Financial Supervision (ESFS), the surveys will feed into a comprehensive background for Members regarding possible changes to the ESFS set-up.
All interested stakeholders, including academics and informed individuals, are invited to complete one or more of Mazars' surveys (see links below) by Friday 21 June 2013.
All responses to the questionnaire will be received and analysed by Mazars (see Mazars' statement of confidentiality in the attached letter).
 
Please do not send any material to the European Parliament or its services.

 
Further information
 
Public Hearing on FATCA

On 28 May  ECON will hold a public hearing on "The fight against tax evasion - FATCA as a step towards international automatic exchange of information?".
 
Tuesday, 28 May, from 15:30 to 17:00, room ASP 5G3.

 
Further information
 
MEP Gunnar Hokmark pictures in the plenary before the start of the debate on Radio spectrum  
Vote on Recovery and Resolution Directive

On 20 May ECON  voted on its report on the proposal for a directive on bank recovery and resolution. 
This is a key pillar in the reform of EU banking legisation, following the agreement on the capital requirements and single supervisor packages in recent weeks.
 
Monday, 20 May, from 20:30-22:15, room WIC 100, in Strasbourg

 
Further information
 
ECON delegation to Portugal on 29 - 30 April

A delegation of 12 ECON Members, including the Chair visited Portugal on 29 and 30 April. The delegation met, inter alia, the Portuguese Ministers of Finance and of the Economy, Members of the national Parliament, the Governor of the Central Bank and the social partners. The delegation discussed in particular the reforms which are being implemented and the corrective measures taken for budgetary consolidation and recovery of the Portuguese economy.

 
Further information
 
 
Latest press releases
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Taxpayers and savers last in line to save banks
ECON 21-05-2013 - 13:02  

Taxpayers and savers must be the last people called upon to bail out banks, says Parliament's negotiating position, approved by the Economic and Monetary Affairs Committee on Monday, on draft rules on saving struggling banks. The text rules out using deposits below €100,000 and says that even deposits above €100,000 should be the last to be called in. The committee voted against using deposit guarantee funds for resolution actions and also set out strict conditions for using taxpayer's money.

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MEPs dissect Cyprus bailout with Messrs Rehn and Asmussen
ECON 08-05-2013 - 13:14  

The confusion and delay that surrounded decisions on the Cyprus assistance plan were not only due to Cypriot intransigence. Rather, they reveal a need to radically rethink Eurogroup and Troika working methods, argued Economic and Monetary Affairs Committee MEPs in Wednesday's debate with Commissioner Olli Rehn and ECB Executive Board member Jorg Asmussen.

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MEPs set to dig deeper into Troika's Cyprus deal
ECON 07-05-2013 - 18:16  

Pressure to reveal how the Cyprus financial plans were hatched would continue, the chair of Parliament's economic and monetary affairs committee, said on Tuesday when she closed a debate with Eurogroup President Jeroen Dijsselbloem that left various MEPs less than fully satisfied on the quality of the answers provided.

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Commissioner Rehn pledges slower austerity to critical MEPs
ECON 25-04-2013 - 15:52  

The European Commission's austerity focus was widely lambasted by centre-left MEPs at an Economic and Monetary Affairs Committee meeting with Commissioner Olli Rehn on Thursday, only a week after he last came in for strong criticism in Parliament's plenary chamber. But the centre right's lead MEP urged Mr Rehn to show more bravery and conviction amid growing signs that the Commission may to bow to anti-austerity campaigners.

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Breathing room and rate cut on the cards as ECB readies for slowdown
ECON 24-04-2013 - 18:38  

MEPs quizzed European Central Bank Vice-President Vitor Constancio on what more can be done to help credit flow to businesses and households, whether austerity is the right recipe, ECB transparency and possible interest rate cuts at Wednesday's Economic and Monetary Affairs Committee meeting on ECB activities in 2012.

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Home loans: better protection for buyers
ECON 23-04-2013 - 10:47  

Property buyers would be better informed about the costs and consequences of taking on a mortgage, better protected from market swings while the contract lasts and better protected if they cannot repay the loan, under a provisional deal struck by Economic and Monetary Affairs Committee MEPs and EU member state representatives on Monday. To become law, this deal must be approved by Parliament as a whole and endorsed by the member states.

Presentation and responsibilities
 
Committee responsible for:
 
1.    the economic and monetary policies of the Union, the functioning of Economic and Monetary Union and the European monetary and financial system (including relations with the relevant institutions or organisations);
 
2.    the free movement of capital and payments (cross-border payments, single payment area, balance of payments, capital movements and borrowing and lending policy, control of movements of capital originating in third countries, measures to encourage the export of the Union's capital);
 
3.    the international monetary and financial system (including relations with financial and monetary institutions and organisations);
 
4.    rules on competition and State or public aid;
 
5.    tax provisions;
 
6.    the regulation and supervision of financial services, institutions and markets including financial reporting, auditing, accounting rules, corporate governance and other company law matters specifically concerning financial services.
 
Upcoming broadcasts
 
27-05-2013 - 15:00 / 18:30 ECON   Watch the meeting
28-05-2013 - 09:00 / 12:30 ECON   Watch the meeting
28-05-2013 - 15:30 / 19:00 ECON   Watch the meeting
View program
Multimedia Library
 
21-05-2013 - 19:10   ECON Meeting   Watch the meeting
08-05-2013 - 09:38   ECON Meeting   Watch the meeting
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Welcome words
 
Sharon Bowles, Chair of ECON Committee@European Parliament  
 

The European Parliament is a major agenda-setter in the area of European policy and the Economic and Monetary Affairs Committee (ECON) plays a key role in the work of the Parliament. It has responsibility for such matters as the economic and monetary policies of the EU, taxation and competition policies, free movement of capital and the regulation of financial services (banks, insurance, pension funds, asset/fund management, accounting, international monetary and financial systems etc.). Moreover, as the great majority of Parliament's work is done at Committee level, it is ECON that does most Parliamentary work on these key economic and monetary policy areas. This puts ECON at the centre of the Parliament's work on the current economic and financial crisis and gives ECON significant influence on the policy agenda in the EU and internationally.
 
As regards the monetary policies of the Union and the functioning of EMU and the European monetary system, the accountability of the ECB vis-à-vis the Parliament plays a key role, as it acts as an important counterbalance to the central bank's independence.
 
ECON plays a key role in making EU law, because the Parliament is, together with the Council, the EU's co-legislator in most EU policy areas. EU law often determines the national laws and regulations in Member States, especially in financial services and, after the entry into force of the Treaty of Lisbon, in the area of EU economic governance. This allows an ECON Members to shape EU law in these important areas of EU policy.