POSITION OF THE EUROPEAN PARLIAMENT adopted at first reading on 22 October 2024 with a view to the adoption of Regulation (EU) 2024/… of the European Parliament and of the Council establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine
The majority of European laws is adopted using the ordinary legislative procedure. This gives the European Parliament and the Council of the EU an equal say on a wide range of issues.
Under the ordinary legislative procedure, the European Parliament adopts its position at first reading on the basis of the proposal presented by the Commission. If the position is not approved by the Council, the European Parliament may adopt its position at second reading by adopting amendments to the Council position.
As a general rule, EP positions take the form of consolidated texts, whereby political amendments and technical adaptations are incorporated in the Commission proposal (at first reading) or the Council position (second reading).
The first and second reading positions are forwarded to the Council and the Commission and serve as a basis for further steps in the ordinary legislative procedure.
For further information see: Rules of Procedure (Rule 203) and ordinary legislative procedure.