ECOFIN-raad bespreekt overgang Pools voorzitterschap naar Denemarken (en) - Hoofdinhoud
A session of the Council for Economic and Financial Affairs (ECOFIN) took place in Brussels on 30th November this year under the chairmanship of Finance Minister Jacek Rostowski.
During its session, the Council approved the 2012 EU budget, which had been agreed with the European Parliament on 18th November 2011 at a meeting of the conciliation committee of the EU Council and Parliament as part of the 2012 EU budget acceptance procedure. In accordance with the Council’s intention, the payment level of next year’s budget was set at €129,088 billion - a slight increase over the 2011 budget. Simultaneously, a substantial increase in commitments to the level of €147,232 was agreed, which took into account numerous demands proposed by the European Parliament, largely connected with the implementation of the Europe 2020 strategy and the EU’s external challenges. The compromise has made it possible to reconcile the need to maintain proper financial discipline with the financing of the increased pro-development requirements of EU policy.
A significant agreement emerging from the ECOFIN Council session was the compromise reached with regards to conclusions pertaining to economic impact assessment of new EU initiatives. The accepted conclusions in particular have obligated COREPER to investigate ways of bolstering the implementation of existing guidelines evaluating the influence of legislative consequences. This will be achieved by measures including involving several of the Council’s formations, including the ECOFIN and COMPET Councils, in evaluating the effect of the EU’s major regulatory initiatives on public finances and competitiveness. The Council has also obligated the subsequent Danish Presidency to report by June 2012 to the Council on initiatives undertaken by COREPER.
In addition, the European Commission (EC) presented a second packet pertaining to economic governance as well as a Green Paper concerning the possibility of issuing stabilisation bonds.
The EC also unveiled its Annual Growth Survey, officially published on 23rd November 2011. In it, the EU’s chief economic policy is presented along with budget priorities and reforms designed to increase economic growth and employment. The presentation of that survey kicked off work under what is known as the second European Semester pertaining to community guidelines affecting the national budgets of EU Member States in 2013.
During the session, France briefly summed up the results of the G20 summit at the start of November in Cannes. The principal decision taken in Cannes had to do with bolstering the coordination of economic policies, reform of the international monetary system, financial services and presenting the fluctuation of raw materials prices by enhancing the transparency of raw-materials and energy as well as food markets.
Moreover, at the session of the ECOFIN Council the Court of Auditors presented its report on the execution of the 2010 EU budget. Adoption by the ECOFIN Council of recommendations for the European Parliament to approve the European Commission’s handling of the 2010 budget is planned for February 2012. It will be preceded by a detailed discussion at the technical level in the Council Budget Committee.
The Finance Ministers of the EU Member States, signatories of the Euro Plus Pact, approved the report on tax coordination. It identified many issues which should be taken into account in the course of further dialogue within the Euro Plus Pact in the realm of taxation (avoidance of harmful tax practices, combating tax fraud and tax evasion, sharing good practices and coordinating efforts at the international level). The above-mentioned report is to be presented to the European Council on 9thDecember this year.
The Council also took note of the Polish Presidency’s report on proposed changes of European principles governing capital requirements for banks and investment firms (CRD IV). The changes are intended to bolster capital quality in banks and investment firms and ensure more effective oversight, whilst simultaneously simplifying operating principles.
The Council also accepted a recommendation to nominate Mr Benoît Coeuré of France to membership of the European Central Bank Board effective 1st January 2012 who is to replace Mr Lorenzo Bini Smaghi in connection with the latter’s resignation.
In addition, the Council has accepted conclusions regarding EU statistics and approved the nomination of a new chairman of the European Statistical Governance Advisory Board, (ESGAB) as well as three members of the above-mentioned Board. Mr Thomas Wieser will become the ESGAB chairman and the new are to be: Pilar Martin-Guzman, Guenter Kopsch and Edvard Outrata.
At the close of the session, the Finance Ministers of the EU Member States thanked Minister Jacek Rostowski for the half year of his ECOFIN Council chairmanship.
* * *
On the sidelines of the ECOFIN Council session, on 29th November 2011 a dialogue was held with the European Parliament on managing the crisis and further efforts to bolster economic governance in the EU. Also taking part were representatives of successive Presidencies of the RU Council (Denmark and Cyprus) as well as of the European Commission.
data publikacji: 01-12-2011