Latest news
July 2014

► The next ECON Committee meeting:
  • 3 September 9:00-12:30 and 15:00-18:30 and 4 September 9:00-12:30 in Brussels
Latest study:
► 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.

Appointment of Commissioner Jyrki Katainen

Following the election to the European Parliament of former commissioner Olli Rehn, the ECON Committee held an exchange of views with Jyrki Katainen on 14.07.14 in Strasbourg. Mr Katainen has been designated for the portfolio of Economic and Monetary Affairs. His mandate is expected to last until the end of October, when a new Commission is to be set up. Following the exchange of views, the European Parliament approved Mr Katainen's appointment as Commissioner during its plenary sitting of 16.07.14.

Latest press releases
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The priorities of the Italian Council Presidency are being outlined to the various parliamentary committees by Italian ministers, on 22 and 23 July. This text will be updated daily.

JURI LIBE BUDG FEMM ECON ITRE 15-07-2014 - 10:47  

Four candidate EU Commissioners, nominated to replace those who left to become MEPs, were given committee hearings on Monday. The four, who if confirmed by the full House will serve for the rest of the Commission’s current term, are Jyrki Katainen (Finland), Ferdinando Nelli Feroci (Italy) Martine Reicherts (Luxembourg) and Jacek Dominik (Poland).

ECON 15-07-2014 - 10:44  

The way out of debt is through growth, not spending; European Central Bank President Margo Draghi told Economic and Monetary Affairs Committee MEPs on Monday evening, in the first Monetary Dialogue session since the European elections. The ECB will support lending to the real economy and lower taxes provided they are accompanied by structural reforms and efforts to complete the EU single market, he added.


After the election of a President, Vice-Presidents and Quaestors of the European Parliament in Strasbourg last week, parliamentary committees convened on Monday in Brussels to elect chairpersons and their deputies for next two and a half years.

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.