Latest news
November 2014

► The next ECON Committee meetings:   
  Monday, 1 December from 15:00-18:30
  Tuesday, 2 December from 09:00-12:30 and 15:00-18:30
Latest study and briefings:
► 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.

Public hearing on Bank Structural Reform

The ECON Committee will hold a public hearing on Bank Structural Reform.
The hearing will have two sessions :
  • Are large universal banks inherently risky?
  •  What are the consequences of different options for structural reform?
The aim of the Hearing is to listen to views of experts on the issues around the Commission's proposal for a regulation on structural measures improving the resilience of EU Credit Institutions (2014/0020(COD)).
Tuesday, 2nd December 2014 from 16:30 to 18:30 in room JAN 4Q2

Further information
Monetary Dialogue with M.Draghi, President of the ECB

On Monday, 17 November, from 15:00-17:00, ECB’s President Mario Draghi came to ECON for a Monetary Dialogue. President Draghi presented the ECB’s perspective on economic and monetary developments before entering in a discussion with Members, also covering 2 specific issues:
  • Unconventional monetary policy and financial market fragmentation in the euro area;
  • Eurosystem collateral policy and framework
From 17:00-18:00 M.Draghi addressed ECON Committee in his role as chair of the European Systemic Risk Board (ESRB).

Further information
Public Hearing on the Reform of Global Benchmarks Legislation

ECON will hold a public hearing on global benchmarks regulation on 11 November from 15:00 - 16:30.
The Commission put forward a proposal for a regulation of benchmarks at EU level in September 2013. The hearing will discuss regulatory approaches on benchmarks at global level, areas for regulatory cooperation and issues such as cross-border effects.
Tuesday, 11 November, from 15:00 - 16:30, room JAN 4Q2 

Further information
Briefings on the hearings of the Commissioners

Briefings about the commitments made at the hearings of
Valdis Dombrovskis, Vice-President of the Commission, Commissioner for the Euro and Social Dialogue,
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs,
Jonathan Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union, 
Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness,
Margrethe Vestager, Commissioner for Competition
are available on ECON web page:

Latest press releases
See all  
ECON 17-11-2014 - 19:52  

The European Central Bank will take unconventional monetary measures if the economic situation in the euro area requires them, ECB President Mario Draghi reiterated to economic and monetary affairs MEPs on Monday. As the Banking Union takes shape, risks could migrate from banks to the non-banking sector, he warned. Also, speaking as chair of the Systemic Risk Board, he added that there is "a vast scope for more coordination of sanctions against banks between the US and Europe".

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.