EN Official Journal of the European Union CE 184/486

Friday 24 April 2009

Facility providing mid-term financial assistance for Member States' balances of payments *

P6_TA(2009)0324

European Parliament legislative resolution of 24 April 2009 on the proposal for a Council regulation amending Regulation (EC) No 332/2002 establishing a facility providing medium-term financial assistance for Member States' balances of payments (COM(2009)0169 – C6-0134/2009 – 2009/0053(CNS))

2010/C 184 E/84

(Consultation procedure)

The European Parliament,

having regard to the Commission proposal to the Council (COM(2009)0169),

having regard to Article 308 of the EC Treaty, pursuant to which the Council consulted Parliament (C6-0134/2009),

having regard to Council Regulation (EC) No 332/2002 of 18 February 2002 establishing a facility providing medium-term financial assistance for Member States' balances of payments (1) and Parliament's position of 6 September 2001 on the proposal for a Council regulation establishing a facility providing medium-term financial assistance for Member States' balances of payments (2),

having regard to its position of 20 November 2008 (3) on the proposal for a Council regulation amending Regulation (EC) No 332/2002 and its resolution of the same day on establishing a facility providing medium-term financial assistance for Member States' balances of payments (4),

having regard to the opinion of the European Central Bank of 20 April 2009 on the proposal for a Council regulation amending Regulation (EC) No 332/2002 establishing a facility providing medium-term financial assistance for Member States' balances of payments,

having regard to Rules 51 and 134 of its Rules of Procedure,

having regard to the report of the Committee on Economic and Monetary Affairs (A6-0268/2009),

1. Approves the Commission proposal as amended;

2. Calls on the Commission to alter its proposal accordingly, pursuant to Article 250(2) of the EC Treaty;

3. Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

4. Asks the Council to consult Parliament again if it intends to amend the Commission proposal substantially;

5. Instructs its President to forward its position to the Council, the Commission, and the governments of the Member States.

TEXT PROPOSED BY THE COMMISSION AMENDMENT Amendment 1 Proposal for a regulation – amending act Article 1 – point 3 Regulation (EC) No 332/2002 Article 3a The Commission and the Member State concerned shall conclude a memorandum of understanding detailing the conditions laid down by the Council. The Commission and the Member State concerned shall conclude a memorandum of understanding detailing the conditions laid down by the Council. The Commission shall communicate that memorandum of understanding to the European Parliament and the Council. Amendment 2 Proposal for a regulation – amending act Article 1 – point 4 Regulation (EC) No 332/2002 Article 5 1. The Commission shall take the necessary measures to verify at regular intervals, in collaboration with the Economic and Financial Committee that the economic policy of the Member State in receipt of a Community loan accords with the adjustment programme and with any other conditions laid down by the Council pursuant to Article 3. To this end, the Member State shall place all the necessary information at the disposal of the Commission and cooperate in full with the latter. On the basis of the findings of such verification, the Commission, after the Economic and Financial Committee has delivered an opinion, shall decide on the release of further instalments. 1. The Commission shall take the necessary measures to verify at regular intervals, in collaboration with the Economic and Financial Committee that the economic policy of the Member State in receipt of a Community loan accords with the adjustment programme and with any other conditions laid down by the Council pursuant to Article 3 and the memorandum of understanding referred to in Article 3a . To that end, the Member State shall place all the necessary information at the disposal of the European Parliament and the Commission and cooperate in full with the latter. On the basis of the findings of such verification, the Commission, after the Economic and Financial Committee has delivered an opinion, shall decide on the release of further instalments. The Council shall decide on any adjustments to be made to the initial economic policy conditions. 2. The Council shall decide on any adjustments to be made to the initial economic policy conditions in line with the main economic objectives of the Community . Amendment 3 Proposal for a regulation – amending act Article 1 – point 6 a (new) Regulation (EC) No 332/2002 Article 10 (6a) Article 10 is replaced by the following: ‘Article 10 Every two years the Council shall examine, on the basis of a report from the Commission, after consulting the European Parliament and after the delivery of an opinion by the Economic and Financial Committee […], whether the facility established still meets, in its principle, arrangements and ceiling, the need which led to its creation.’

(1) OJ L 53, 23.2.2002, p. 1.

(2) OJ C 72 E, 21.3.2002, p. 312.

(3) Texts adopted, P6_TA(2008)0560.

(4) Texts adopted, P6_TA(2008)0562.