French Minister of Finance, Michel Sapin participated in an Economic Dialogue and exchange of views in ECON on 7 May. Minister Sapin presented his views on latest economic developments for France and the recent publication of the 2015 National Reform Programme (NRP) and Stability Programme (SP) to be examined by the Commission. He detailed the measures France plans to implement in order to comply with the EDP recommendation to put an end to the excessive deficit in 2017.
The meeting took place on 7 May 2015, 9.00 - 10.30 in Brussels and was webstreamed.
"Even though there is some truth in them, France is the victim of clichés", French Finance Minister Michel Sapin told Economic and Monetary Affairs Committee MEPs in an “economic dialogue” meeting at the European Parliament on Thursday morning. Despite what is often said and written, “France is reforming, but reforms require careful negotiation and have to be phased in gently so as to last and avoid social conflict", he added. (Read more)
EU rules on payment services would be updated to improve security, widen consumer choice and keep pace with innovation under an informal deal struck by Economic and Monetary Affairs Committee MEPs and the Latvian Presidency of the Council on Tuesday. The updated rules aim to stimulate competition to provide payment services and foster innovative payment methods, especially for online payment services. They still need to be endorsed by Parliament as a whole and the Council. (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.