^-The April 12-14 Oviedo ECOFIN informal meeting will debate the economic benefits of integrated capital markets and post-ENRON issues. As urged during the March 15-16 EU Summit in Barcelona, it should be considered to set up a group of experts to assess the conditions for sound and transparent corporate management.
The ECOFIN Council will consider possible steps to take in this area before June on the basis of a European Commission proposals. A summary paper on implications of ENRON will be published.
The Ministers will also examine the impact of the Basle banking surveillance agreement for small and medium-sized enterprises. They will also discuss a report on financial stability and crisis management in the EU.
Main topic of the meeting will presumably be the choice of a candidate for the ECB Vice-Presidency to take over from Christian Noyer, whose term of office expires on June 1. Candidates are the governor of the Greek Central Bank, Lucas Papademas, and the president of the Belgian Senate’s Economic Affairs Commission, Paul de Grauwe.
ECB President Wim Duisenberg plans to leave the ECB in July. As France will no longer have a representative on the ECB’s Board after June 1 it cannot be ruled out that the next ECB President turns out to be French.
The two-day Council will kick off with a meeting of the Eurogroup (informal forum of Euro-zone Finance Ministers), which will be extended to include all 15 Member States.
See full agenda
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