On the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 472/2013 as regards the economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability
ECON-PR-784226
Committee on Economic and Monetary Affairs · Rapporteur: Markus Ferber, Carla Tavares
Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.
This is the rapporteur's draft report on a proposal to amend Regulation (EU) No 472/2013 on economic and budgetary surveillance of euro area member states in serious financial difficulty.¶¶ The draft resolution adopts Parliament's first-reading position and calls on the Commission to refer the matter to Parliament again if it substantially amends its proposal.¶¶ The amendments delete the words 'as a rule' from Articles 3 and 14 of the regulation, so that the Commission's assessment duties become fixed rather than discretionary.¶¶¶
Committee position. The rapporteurs propose that Parliament adopt its first-reading position with two amendments deleting 'as a rule' from Articles 3 and 14 of Regulation (EU) No 472/2013 to reduce the Commission's discretionary power.¶¶¶
Key points
- Parliament adopts its first-reading position on the Commission proposal to amend Regulation (EU) No 472/2013.¶
- Parliament calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal.¶
- Amendment 1 deletes the second subparagraph of Article 3(5), which required the Commission to communicate its assessment every quarter to Parliament's competent committee and the EFC.¶
- The deletion of 'as a rule' in Articles 3 and 14 aims at reducing the discretionary power of the Commission.¶¶
- Amendment 2 replaces 'As a rule, the Commission' with 'The Commission' in Article 14(1b), so the Commission, in liaison with the ECB, shall communicate its assessment every six months to Parliament's competent committee, the EFC and the parliament of the member state concerned.¶
Who is affected
- The Commission: its assessment duties become fixed rather than discretionary.¶¶¶
- Euro area member states in serious financial difficulty: their parliaments receive the Commission's assessment every six months.
- The European Parliament's competent committee and the EFC: they receive the Commission's assessment every six months.
Figures and deadlines
- every six months — how often the Commission communicates its assessment under Article 14(1b).¶
Legal basis: Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union.¶