Economic and Monetary Affairs Committee MEPs held their first public discussion of the EU economic governance legislative package, to be hammered out by Parliament and EU Member States by the end of June. The discussion suggested that compromises were emerging on various issues, but also that the political groups still differ, primarily on the nature of sanctions and the rate at which excessive debt should be reduced per year.
On Monday, ECB President, Jean-Claude Trichet, told the committee that he was relying very much on the European Parliament's influence to improve this legislation, since Member States still had some way to go before their position would be acceptable to the ECB.
Discussion within Parliament on proposals for compromise amendments will go on at a frenetic pace over the next six weeks, to enable the committee to vote on them by the end of April. MEPs will then enter into negotiations with Member States in a bid to strike a deal.
Amendments:
(C.Wortmann-Kool) Amendment of Regulation (EC) N.1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (View)
(D.Feio) Amendment of Regulation (EC) N. 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure (View)
(E.Ferreira) Prevention and correction of macroeconomic imbalancies (View)
(S.Goulard) Effective enforcement of budgetary surveillance in the euro area (View)
(C.Haglund) Enforcement measures to correct excessive macroeconmic imbalancies in the euro area (View)
(V.Ford) Requirements for budgetary frameworks of the Member Sates (View)
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