The EP's Committee on Economic and Monetary Affairs (ECON) and especially the Banking Union Working Group (BUWG) established by ECON seeks independent expert advice in the field of banking supervision and resolution. The chosen experts will be asked to regularly contribute to the preparations of the hearings in the framework of the Single Supervisory Mechanism and the Single Resolution Mechanism as well as for any other purpose arising from the on-going works of the BUWG. The expertise will be requested in the form of the written papers and related services as appropriate. The official call for tender notice can be found in the Official Journal of the EU. The tender documents can be downloaded at http://www.europarl.europa.eu/tenders/invitations.htm.The closing date for the submission of tenders is 21 May 2015.
Negotiators of the European Parliament and the Council opened negotiations on the European Fund for Strategic Investments (EFSI) on Wednesday. (Read more)
A negotiating brief on the “Juncker” plan for a European Fund for Strategic Investments (EFSI) to guarantee growth and job-creating investment was backed by the Budgets and Economic and Monetary Affairs committees on Monday evening. But MEPs contested plans to feed the fund from the EU research and transport investment budgets, and called for more parliamentary control over its leadership and goals. (Read more)
The European Commission’s economic decision-making needs to become more neutral, MEPs said in an Economic and Monetary Affairs Committee debate with Commission Vice-President for the euro Valdis Dombrovskis and Economic and Financial affairs Commissioner Pierre Moscovici on Tuesday. MEPs also voiced concern about the low implementation of the Commission’s country-specific recommendations and asked what it would do about high current account surpluses in Germany and other exporting countries. (Read more)
A draft EU law to make the benchmarks used to price EU citizens’ mortgages, loans and bonds more trustworthy was backed by the Economic and Monetary Affairs Committee on Tuesday. The text (lead MEP Cora van Nieuwenhuizen, ALDE, NL) aims to clean up the benchmark-setting process, by curbing conflicts of interest like those that led to the London Interbank Offered Rate (LIBOR) rigging scandals of recent years. (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.