The EU Commission is asked to table measures to improve corporate tax transparency, coordination and EU-wide policy convergence in legislative recommendations voted by the Economic and Monetary Affairs Committee on Tuesday. These recommendations build on the work of Parliament’s Special Committee on Tax Rulings, set up in the wake of the “Luxleaks” revelations, whose recommendations were approved at the 26 November plenary session. (Read more)
The EU economy is showing resilience in the face of external circumstances, but the European Central Bank’s March inflation forecast was too positive, ECB President Mario Draghi admitted to MEPs on Thursday. This regular “monetary dialogue” meeting with the Economic and Monetary Affairs Committee focused on the Eurozone economic outlook and the ECB's role in macro-economic adjustment programmes. (Read more)
The economic and monetary committee will debate the macroeconomic adjustment programme for Greece with Jeroen Dijsselbloem, Eurogroup president and chair of the Board of Governors of the European Stability Mechanism (ESM), and Klaus Regling, the ESM managing director, on Tuesday at 17.00. (Read more)
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.