A4-0439/98

Resolution on a proposal for a Council Decision on the representation and position taking of the Community at international level in the context of economic and monetary union (COM(98)0637 - C4-0638/98 )

The European Parliament,

- having regard to the proposal from the Commission (COM(98)0637 - C4-0638/98),

- having regard to its resolution of 7 April 1992 on the results of the intergovernmental conferences ((OJ C 125, 18.5.1992, p. 81. )),

- having regard to its resolution of 12 March 1993 on the conclusion and adaptation of interinstitutional agreements ((OJ C 115, 26.4.1993, p. 253. )),

- having regard to the report of the Committee on Economic and Monetary Affairs and Industrial Policy and the opinion of the Committee on External Economic Relations (A4-0439/98),

1. Requests the Council and the Commission to take account of the following proposed modifications to the above proposal:

(Proposed modification 1 )

Recital 8

>Original text>

Whereas economic, monetary and exchange rate policies are closely interlinked;

>Text following EP vote>

Whereas exchange rate

policy can be effective when it is supported by a coordinated economic and monetary policy;

(Proposed modification 2)

Recital 8a (new)

>Original text>

>Text following EP vote>

Whereas the Commission is required to monitor the coordination as decided in the broad guidelines of economic policies, and whereas the external representation of the Community must take place on the basis of these broad guidelines;

(Proposed modification 3)

Recital 8b (new)

>Original text>

>Text following EP vote>

Whereas after coordination on the broad guidelines of economic policies has taken place, the Community should really speak with one voice, and for that with a voice that is politically accountable to the Community institutions involved in Community legislation;

(Proposed modification 4)

Recital 11a (new)

>Original text>

>Text following EP vote>

Whereas, in becoming members of the Governing Council of the ECB, national bank governors change status and no longer represent their country or their bank but Monetary Union;

(Proposed modification 5)

Recital 11b (new)

>Original text>

>Text following EP vote>

Whereas the President of the ECB is empowered by the Statute of that institution to represent it at international level;

(Proposed modification 6)

Recital 13a (new)

>Original text>

>Text following EP vote>

Whereas the only acceptable procedure for deciding upon how to implement Article 109(4) is a Council decision;

(Proposed modification 7)

Recital 20

>Original text>

Whereas the International Monetary Fund is a core organisation in the international monetary and financial system; whereas the IMF is an organisation whose members are states; whereas the Community is not represented in the Fund;

>Text following EP vote>

Whereas the International Monetary Fund is a core organisation in the international monetary and financial system; whereas the IMF is an organisation whose members are states; whereas the Community is not represented in the Fund;

whereas the representation could take the form of a Community Observer Office in the Fund;

(Proposed modification 8)

Recital 25a (new)

>Original text>

>Text following EP vote>

Whereas the Council decision must be taken before 1 January 1999;

(Proposed modification 9)

Article 1, introduction

>Original text>

In the context of Economic and Monetary Union, the Community shall be represented at international level by the Council with the Commission, and by the ECB. This representation shall ensure that the Community speaks with one voice. International level shall refer to:

>Text following EP vote>

In the context of Economic and Monetary Union, the Community shall be represented at international level by the Council

and the Commission, and by the ECB. This representation shall ensure that the Community speaks with one voice. International level shall refer to:

(Proposed modification 10)

Article 3

>Original text>

The Member States and the institutions of the Community shall take all such steps that are necessary to ensure that the Community is represented at international level in accordance with the principles set out in Articles 1 and 2.

>Text following EP vote>

The Member States and the institutions of the Community shall take all such steps that are necessary to ensure that the Community is represented at international level in accordance with the principles set out in Articles 1 and 2

, as soon as possible after 1 January 1999.

>Original text>

In particular:

- as regards G7 Finance meetings and preparatory groups, the participating Member States shall ensure that the Community is represented in accordance with the principles set out in Articles 1 and 2 and will take all such other steps as may, to this end, be necessary; they will report to the Council and the Commission accordingly;

>Text following EP vote>

In particular:

- as regards G7 Finance meetings and preparatory groups, the participating Member States shall ensure that the Community is represented in accordance with the principles set out in Articles 1 and 2 and will take all such other steps as may, to this end, be necessary; they will report to the Council and the Commission accordingly and the Commission will inform the European Parliament of the outcome of such meetings;

>Original text>

- as regards G10 Ministerial meetings and preparatory groups, the participating Member States shall, in close consultation with the Commission, ensure that the Member State as defined in Article 2 and the ECB shall also participate in representing the Community; they will report to the Council and the Commission accordingly;

>Text following EP vote>

-

as regards G10 Ministerial meetings and preparatory groups, the participating Member States shall, in close consultation with the Commission, ensure that the Member State as defined in Article 2 and the ECB shall also participate in representing the Community; they will report to the Council and the Commission accordingly and the Commission will inform the European Parliament of the outcome of such meetings;

>Original text>

- as regards meetings of the Economic Policy Committee and its Working Parties of the Organisation for Economic Co-operation and Development, the Community delegation will, in addition to the Commission, include the ECB and, if it does not already participate in such meetings, the Member State as defined in Article 2.

>Text following EP vote>

-

as regards meetings of the Economic Policy Committee and its Working Parties of the Organisation for Economic Co-operation and Development, the Community delegation will, in addition to the Commission, include the ECB and, if it does not already participate in such meetings, the Member State as defined in Article 2. The Commission will inform the European Parliament of the work in progress and outcome of meetings.

(Proposed modification 11)

Article 4, 2nd paragraph a (new)

>Original text>

>Text following EP vote>

The Commission will inform the European Parliament of the outcome of such meetings and of the work in progress.

(Proposed modification 12)

Article 4, 2nd paragraph b (new)

>Original text>

>Text following EP vote>

Once a year the 'Observer office' shall be invited to make a statement before the committee responsible of the European Parliament and answer questions put by members.

(Proposed modification 13)

Article 5, 3rd paragraph a (new)

>Original text>

>Text following EP vote>

The Council shall inform the European Parliament of the decisions taken and of the work in progress.

(Proposed modification 14)

Article 5a (new)

>Original text>

>Text following EP vote>

Article 5a

The European Parliament shall be informed of all positions taken at Community level before they are announced and more generally it shall be given all relevant information as regards the external aspects of economic and monetary union.

2. Calls on the Commission to withdraw its proposal should the Council intend to adopt an amended proposal in which the Commission is not sufficiently represented;

3. Instructs its President to forward this resolution to the Commission and Council.