The Committee on Economic and Monetary Affairs held an Economic Dialogue and exchange of views with Jānis Reirs, ECOFIN President and Minister for Finance of Latvia, on 21 January 2015, 11.00 - 12.30, ir order to discuss the priorities of the Latvian Presidency in the area of ECON for the first half of 2015.
Wednesday, 21 January from 11:00-12:30, room PHS 3C 50
The fees that banks charge retailers for processing shoppers’ payments would be capped under draft EU rules endorsed by Economic and Monetary Affairs Committee MEPs in a vote on Tuesday. The vote confirms an informal deal struck with the Council in December. The cap would apply to both cross-border and domestic card-based payments and should cut costs for card users. (Read more)
The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a "legitimate interest", such as journalists, under a Parliament/Council deal endorsed by the Economic and Monetary Affairs and Civil Liberties committees on Tuesday. The new anti-money laundering directive aims to help to fight money laundering, tax crimes and terrorist financing. New rules to make it easier to trace transfers of funds were also approved. (Read more)
EU solidarity should not replace decisions that must be taken in countries suffering economic difficulties, German Finance Minister Wolfgang Schäuble told Economic and Monetary Affairs Committee MEPs in Tuesday’s special debate on the review of the economic governance framework. His Italian colleague Pier Carlo Paduan, vehemently rejected criticism of measures to bring down Italy’s deficit and stressed the need to better coordinate reform policies. (Read more)
The European Commission calculates that the Juncker Plan for a European Strategic Investments Fund will create 1.3 million jobs, said Commissioner for Growth and Jobs Jyrki Katainen in a debate with Economic and Monetary Affairs Committee MEPs on Monday. If projects incur losses, the public share of their funding will take the first blow. "That's why they are interesting for private investors", he said. (Read more)
The priorities of Latvia’s EU Council Presidency will be outlined to the various parliamentary committees by Latvian ministers in a series of meetings to be held during the last two weeks of January. (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.