No C 142/10 Official  Journal  of the European  Communities 16. 11. 74 
ECONOMIC  AND  SOCIAL  COMMITTEE 
Opinion  on the annual  report  of the Commission  on the economic  situation  in 
the Community 
The text  referred  to the Committee  has  not been  published  in the Official  Journal  of  the 
European  Communities. 
A. LEGAL  BASIS  FOR  THE  OPINION 
On 26 September  1974,  the Council  referred  the abovementioned  report  to the Economic 
and Social  Committee  under  Article  4 of the  Council  Decision  of 18 February  1974  on 
the attainment  of a high  degree  of convergence  of the economic  policies  of the Member 
States  of the  European  Community. 
B. OPINION  OF  THE  ECONOMIC  AND  SOCIAL  COMMITTEE 
The Economic  and  Social  Committee  prepared  its Opinion  at its 124th  plenary  session, 
held in Brussels  on 18 October  1974. 
The full  text  of the  Opinion  is as follows  : 
THE  ECONOMIC  AND  SOCIAL  COMMITTEE, 
Having  regard  to the  resolution  of 22 March  1971  of 
the Council  and  the  representatives  of the  Govern-
ments  of the  Member  States  concerning  the  realiza-
tion by stages  of economic  and  monetary  union  in the 
Community; 
Having  regard  to the Council  Decision  of 18 February 
1974  on the  attainment  of a high  degree  of conver-
gence  of the  economic  policies  of the  Member  States 
of the  European  Community; 
Having  regard  to the  referral  on 26 September  1974 
by the Council,  of the  annual  report  of the  Commis-
sion on the  economic  situation  in the  Community  ; 
Having  regard  to the  decision  of its Bureau  on 8 
October  1974  instructing  the  Section  for  Economic 
and Financial  Questions  to prepare  the  proceedings 
on the  matter; 
Having  regard  to the  Opinion  of the  Section  for 
Economic  and  Financial  Questions,  submitted  by the 
Rapporteur,  Mr de Bievre,  and  adopted  unanimously 
at the  Section's  meeting  on 18 October  1974; 
Having  regard  to the  discussions  at the  committee's 
124th  plenary  session  on 18 October  1974, 
HAS  ADOPTED  THE  FOLLOWING  OPINION 
by a unanimous  vote  : 
The importance  and  complexity  of the Opinion  to be 
delivered  on the  annual  report  on the economic  situa-tion in the  Community  necessitate  an exhaustive, 
wide-ranging  debate  at section  and  plenary-session 
level  to enable  the representatives  of the  various  cate-
gories  of economic  and  social  activity  to express  their 
views  on the  problems  raised.  Because  of the  lateness 
of its renewal  the  committee  has,  through  no fault  of 
its own,  been  unable  to meet  in sufficient  time  to 
prepare  the  Opinion  requested  by the  Council. 
The committee  nevertheless  held  a debate  at today's 
extraordinary  plenary  session.  A record  of this  debate 
is annexed  to the  present  Opinion. 
In addition,  the committee  recognizing  the  gravity  of 
the present  situation  agreed  to instruct  its Section  for 
Economic  and  Financial  Questions  to draw  up,  as 
rapidly  as possible,  an Opinion  on  the  economic 
evolution  of the  Community. 
Done  at Brussels,  18 October  1974. 
The Chairman 
of the Economic  and  Social  Committee 
Henri  CANONGE