Conference of Presidents discussion on Single Resolution Mechanism
The Conference of Presidents (CoP), the leaders of the political groups, President Schulz and the EP negotiating team on the Single Resolution Mechanism (SRM) held an intensive discussion today in Strasbourg on the state of play of the negotiations.
The CoP mandated President Schulz to write to Commission President Barroso highlighting that the European Parliament's readiness to negotiate with the Council on the basis of the Economic and Monetary Affairs Committee (ECON) position. The Commission is expected to help actively in this direction as this position builds on its original proposal.
If the negotiations do not move forward in a constructive manner, the EP reserves its right to put forward for adoption in plenary its first-reading position on the basis of the ECON Committee report.
The current state of play in the negotiations is not promising, given the wide differences between the Council and Parliament, meaning that no deal before the European elections in May is a distinct possibility.
The Conference of Presidents and the negotiating team firmly rejects the Intergovernmental Agreement approach on the SRM in the Council given that it undermines the Community Method and the Ordinary Legislative Procedure.
The letter to President Barroso will be sent on Monday 20 January 2014.