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August - September 2014

► The next ECON Committee meeting:
          22 September  15:00-18:30 and 23 September 9:00-10:30 in Brussels (room JAN 4Q2)
 
Latest study and briefings:
 
 
► Reports voted in ECON (provisional versions)
In order to increase the public awareness of the reports and final texts voted in ECON, provisional versions are available to the public in Reports voted in ECON / final texts agreed with Council until the on-line publication in Documents : Reports or in Plenary.

   
 
Highlights
 
Monetary Dialogue with M.Draghi, President of the ECB

On Monday, 22 September, from 15:00-17:00, ECB’s President Mario Draghi will come to ECON for a Monetary Dialogue. President Draghi will present the ECB’s perspective on economic and monetary developments before entering in a discussion with Members, also covering 2 specific issues:
  • Targeted Longer-Term Refinancing Operations (TLTROs) and the monetary transmission mechanism in the euro area
  • The consequences of persistent inflation differentials across euro-area countries for the conduct of a common monetary policy
 
Monday, 22 September from 15:00-17:00, room JAN 4Q2

   
Economic Dialogue and exchange of views with the President of the Eurogroup

The President of the Eurogroup, Mr. Jeroen Dijsselbloem, (Minister of Finance of the Netherlands), appeared in ECON for an Economic Dialogue and Exchange of views on 4 September from 09:00 to 10:30. This was inter alia an opportunity for ECON Members to discuss the Country-Specific Recommendations adopted in July by the Council.
 
Under the current economic governance framework, the ECON Committee can invite the President of the Eurogroup to an Economic Dialogue to discuss issues in the area of the European Semester for Economic Policy Coordination. On this basis, the President of the Eurogroup appears in ECON at least twice a year.
 
 
 

 
Further information
 
 
Latest press releases
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ECON 04-09-2014 - 15:10  

Fiscal measures, such as shifting taxation away from labour, should play a bigger role in combating the crisis, Eurogroup President Jeroen Dijsselbloem told Economic and Monetary Affairs Committee MEPs on Thursday. But flexibility in implementing the Stability and Growth Pact pact is also needed, because this pact is “the anchor for confidence and it would be self-defeating to break it", he underlined.

AFET DEVE INTA ECON JURI CULT AFCO LIBE FEMM ENVI EMPL ITRE TRAN PECH AGRI 04-09-2014 - 15:03  

The priorities of the Italian Council Presidency are being outlined to the various parliamentary committees by Italian ministers on 2 and 3 September, following a first series of meetings held on 22 and 23 July. This text will be updated after each session.

Powers 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;
7. the relevant financial activities of the European Investment Bank as part of European economic governance in the eurozone.
 
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Welcome words
 
 

Welcome to the Committee on Economic and Monetary Affairs (ECON). The Committee is responsible for Economic and monetary Union (EMU), the regulation of financial services, the free movement of capital and payments, taxation and competition policies, and the international financial system.
The 7th legislature was marked by the most serious economic, financial and social crisis of recent times. The ECON Committee played a decisive role in the adoption of legislation responding to the crisis and took on an increased workload of scrutiny and reports. Consequently the Parliament decided to enlarge the Committee from 50 to 61 Members.
Our top priority today is growth and jobs. Stability, the promotion of investment, reform and social cohesion must be mutually reinforcing. ECON will promote a serious debate on this agenda.
I am convinced that we must move now towards a genuine EMU with an effective economic government, accountable to Parliament.
We need to complete key legislation on banking reform, financial crime and promoting investment in long-term growth-related projects.
We also have to ensure that the new regulatory framework is properly implemented and reviewed, and will monitor closely the Commission and the European Supervisory Authorities. A well regulated and functioning capital market is key to growth.
Finally, the Committee will join the efforts to strengthen democratic legitimacy on the basis of the Community method. A deep and genuine EMU must be a democratic EMU. The Committee will therefore strengthen its cooperation with National Parliaments.