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Politics & Policies - April 2014

04-10-2014
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In this issue: Countdown to the European Elections, ECON visit on financial regulation and TTIP, 75th Transatlantic Legislator's Dialogue Meeting, Up-coming events.

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European Elections - May 2014

 

The countdown has started: there are less than 50 days to go until the first polling stations open for the 2014 European elections. In the second biggest democratic exercise in the world, 400 million people can cast their vote for a new European Parliament. The 751 MEPs taking up their seats in July will not only set the course of European policies for the next five years but also elect the leader of the EU's executive body, the European Commission President.  

Why these elections are different

The increase in the European Parliament’s powers since 2009 has started to make itself felt as the European Union sought to pull through the economic crisis and MEPs drew up legislation, inter alia on effective budgetary discipline, the winding down of failing banks and caps on bankers' bonuses. The May European elections therefore will allow voters to contribute to strengthening or changing the direction that Europe takes in tackling the economic crisis and in many other issues affecting people’s daily lives.

For the first time, the composition of the new European Parliament will determine who will lead the next European Commission, the EU's executive body, which initiates legislation and supervises its implementation. Under the new rules, EU government leaders, who will propose a candidate for the post of the future Commission President, must do so on the basis of the election results.

The European Parliament will elect the new Commission President by a majority of the component members, i.e. at least half of the 751 MEPs to be elected (376). European political parties have therefore put forward their candidates for this leading position in the EU before the European elections, thus allowing citizens to have a say over next Commission President. Five political parties have nominated candidates: Jean-Claude Juncker of the European People’s Party, Martin Schulz  of the Party of European Socialists, Guy Verhofstadt of the Alliance of Liberals and Democrats for Europe, José Bové or Ska Keller from the Green Party (joint candidates), and Alexis Tsipras of the Party of the European Left. 

The new political majority emerging from the elections will also shape European legislation over the next five years in areas from the single market to civil liberties. The Parliament - the only directly elected EU institution - is now a linchpin of the European decision-making system and has an equal say with national governments on virtually all EU laws. Voters will be more influential than ever.

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Members of the European Parliament's Committee on Economic and Monetary Affairs (ECON) were in Washington March 24-26 to discuss EU and US regulatory cooperation in financial services regulation and the possible inclusion of financial services in TTIP.
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On March 25-26, the 75th EU-US Interparliamentary Meeting and Transatlantic Legislator's Dialogue (TLD) Meeting took place in Washington, DC. A twelve-member delegation of the European Parliament, led by TLD EU Co-Chair Christian Ehler MEP (EPP, Germany), travelled to Washington to take part in the meetings. Joint sessions were held between the European Parliament delegation and their Congressional counterparts, led by TLD US Co-Chair Mario Diaz-Balart (R, FL). The TLD co-chairs issued a joint statement following the meetings, focusing on each of the key themes of the discussions.
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We are hosting a number of elections-related events in the coming weeks as well as the annual Embassies' Open House Day. We look forward to welcoming you at these events.
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