-Pat Cox, the newly elected president of the European Parliament, wants to make the assembly an 'active and reliable' partner of Spain's European Union presidency by delivering the economic reforms to be discussed by EU leaders at their mid-March summit in Barcelona. An early test of parliament's reforming spirit will be its handling of the Lamfalussy plan for speeding new EU securities market regulations.
The parliament's constitutional affairs committee is due next week to vote on a compromise that would let the two sides settle the dispute, amid growing signs that a final accord should be reached next month.
The parliament's battle to secure safeguards and accountability was important for securing high-quality decisions on a continental scale and should be a reassurance to the European public, Cox said. Without safeguards, such as those being sought in the Lamfalussy case, 'you have a technocracy which is rampant and a democratic order which is deficient'.
Mr Cox said he was encouraged by a proposal from Jose Maria Aznar, the Spanish prime minister, to institute a dialogue on improving legislative practices between the parliament, the Commission and the council of ministers, representing the EU member states.
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