Home

 
Latest news
 
ECON latest news

► The next ECON Committee meeting : Calendar of meetings 
 
► Reports voted in ECON (provisional versions)
 
In order to increase the public awareness of the reports voted in ECON, provisional versions of Reports will be made available to the public in Reports voted in ECON until the on-line publication in Documents : Reports.
 
► Latest studies requested by the Committee:
 
 
► Press releases :
 

 
Further information
 
 
Highlights
 
Meeting ECON EMPL © European @Union, EP  
ECON/EMPL Joint meeting on 17 June

During the joint meeting ECON/EMPL on 17 June the Commissioners Olli Rehn (Economic and Monetary Affairs) and László Andor (Social Affairs and Inclusion) will present the Commission's Country-Specific Recommendations within the 2013 cycle of the European Semester for economic policy coordination.
 
Monday, 17 June, from 16:30-18:30, room JAN 4Q2

 
Further information
 
Open Surveys on the Review of the European Supervisory Authorities

Mazars is conducting three online surveys regarding the review of the European Supervisory Authorities (EBA, ESMA and EIOPA, respectively) with a view to gain input from stakeholders and the interested public on the set-up and activities of these authorities. The feedback will provide input for a study on the ESAs which Mazars carries out for the European Parliament's Economic and Monetary Affairs Committee. Given the forthcoming review of the European System of Financial Supervision (ESFS), the surveys will feed into a comprehensive background for Members regarding possible changes to the ESFS set-up.
All interested stakeholders, including academics and informed individuals, are invited to complete one or more of Mazars' surveys (see links below) by Friday 21 June 2013.
All responses to the questionnaire will be received and analysed by Mazars (see Mazars' statement of confidentiality in the attached letter).
 
Please do not send any material to the European Parliament or its services.

 
Further information
 
Public Hearing on FATCA

On 28 May  ECON held a public hearing on "The fight against tax evasion - FATCA as a step towards international automatic exchange of information?".
 

 
Further information
 
 
Latest press releases
See all  
  • PDFicon
Country-specific recommendations: yes to breathing space, no to austerity theory
ECON EMPL 18-06-2013 - 13:43  

The extra economic reform "breathing space" granted to enable EU countries to meet deficit-cutting requirements and boost growth was welcomed by MEPs in Monday's joint economic affairs and employment committee debate with Commissioners Olli Rehn and László Andor. MEPs also criticized the analysis and economic theories underlying austerity recommendations.

  • PDFicon
European Council debriefing leaves MEPs underwhelmed
ECON 28-05-2013 - 17:08  

MEPs were broadly critical of the outcome of last week's EU summit on tax evasion and energy, as reported by Commission President José Manuel Barroso and European Council President Herman Van Rompuy on Tuesday. Some political group representatives felt the summit's conclusions were "too little, too late". Others said it had failed to address the real problems or to set any real deadlines for achieving stated aims.

  • PDFicon
Barnier debate highlights next steps for banking union
ECON 27-05-2013 - 18:30  

Economic and Monetary Affairs Committee MEPs quizzed Commissioner Barnier Monday on his upcoming proposals for dealing with banks in trouble. They pressed him to present an ambitious plan. Other questions concerned planned legislation on shadow banking and insurance as well as transatlantic relations.

  • PDFicon
Taxpayers and savers last in line to save banks
ECON 21-05-2013 - 13:02  

Taxpayers and savers must be the last people called upon to bail out banks, says Parliament's negotiating position, approved by the Economic and Monetary Affairs Committee on Monday, on draft rules on saving struggling banks. The text rules out using deposits below €100,000 and says that even deposits above €100,000 should be the last to be called in. The committee voted against using deposit guarantee funds for resolution actions and also set out strict conditions for using taxpayer's money.

Presentation 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.
 
Today's broadcasts
 
No broadcast today  
View program
Multimedia Library
 
18-06-2013 - 09:11   ECON Meeting   Watch the meeting
17-06-2013 - 15:10   ECON Meeting   Watch the meeting
See all
Welcome words
 
Sharon Bowles, Chair of ECON Committee@European Parliament  
 

The European Parliament is a major agenda-setter in the area of European policy and the Economic and Monetary Affairs Committee (ECON) plays a key role in the work of the Parliament. It has responsibility for such matters as the economic and monetary policies of the EU, taxation and competition policies, free movement of capital and the regulation of financial services (banks, insurance, pension funds, asset/fund management, accounting, international monetary and financial systems etc.). Moreover, as the great majority of Parliament's work is done at Committee level, it is ECON that does most Parliamentary work on these key economic and monetary policy areas. This puts ECON at the centre of the Parliament's work on the current economic and financial crisis and gives ECON significant influence on the policy agenda in the EU and internationally.
 
As regards the monetary policies of the Union and the functioning of EMU and the European monetary system, the accountability of the ECB vis-à-vis the Parliament plays a key role, as it acts as an important counterbalance to the central bank's independence.
 
ECON plays a key role in making EU law, because the Parliament is, together with the Council, the EU's co-legislator in most EU policy areas. EU law often determines the national laws and regulations in Member States, especially in financial services and, after the entry into force of the Treaty of Lisbon, in the area of EU economic governance. This allows an ECON Members to shape EU law in these important areas of EU policy.