CELEX: 51975PC0386
Language: en
Date: 1975-07-18
Title: PROPOSAL FOR A DECISION OF THE COUNCIL on a change in the timetable for the preparation of the annual report on the economic situation in the Community (submitted by the Commission to the Council)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (75) 386
Vol. 1975/0152
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                              COM(75)386 final
                                           Brussels , 18 July 1975
                  PROPOSAL FOR A DECISION OP THE COUNCIL
             on a change in the timetable for the preparation
             of the annual report on the economic situation in
                               the Community
               ( submitted by the Commission to the Council )
 C°M(75 ) 386 final
 ---pagebreak---                              EXPLANATORY MEMORANDUM
<
  The economic outlook for coming months and for 1976 is obscured toy factors
  which are exceptionally difficult to predict , and the Commission will there­
  fore not be a position to lay before the Council in early September a draft
  annual report on the economic situation of the . Community » when the draft would
 have to be started , virtually nothing in the way of data more recent than those
 available at the time (lO July) when the Council holds it meeting on the second
 examination of the economic situation of the Community would be available . This
 is a particularly serious handicap at a time when the establishment of economic
policy guidelines is largely a function of the availability of recent indicators
on the economy showing whether or not trends have started rising again as expected*
Accordingly , the Commission believes that it is preferable that the draft annual
report should go to the European Parliament and to the Economic said Social Committee
on 15 Ostober . The required Opinions having been obtained by about 15 November ,
the Council could then normally adopt the annual report at its session held-     on v
the third Monday of November . This should be early enough for the national Par­
liaments to be able to take the Council 's guidelines into account in budget de­
bates , as provided for in Article 5     "the Council Decision of 18 February 1974 .
The Commission feels that this new timing should also be followed fairly closely
in the future . For this purpose , it submits to the Council the attached proposal
for an amendment of the Decision of 18 February 1974 (l) on the attainment of a
high degree of convergence of the economic policies of the Member States of the
European Economic Community .
(l) QJ No L 63, 5 March 1974* p. 16 .
 ---pagebreak---                  PROPOSAL FOR A DECISION OF THE COUNCIL
 on a change in the timetable for the preparation of the annual
 report on the economic situation in the Community
 THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
 Having regard to the Treaty establishing the European Economio Community, and
 in particular Articles 103 and 145 thereof;
 Having regard to the proposal from the Commission ;
Having regard to the Opinion of the European Parliament ;
Having regard to the Opinion of the Economic and Social Committee ;
Whereas the Decision of the Council of 18 February 1974 ( l ) on the attainment
of a high degree of convergence of the economic policies of the Member States
of the European Economic Community provided that the Council should hold three
meetings yearly to examine the economic situation, the third towards the end
of the third quarter , at which an annual report on the economic situation in the
Community should be adopted ;
Whereas experience shows that because of the inadequacy of available statistics ,
the third quarter of the year is too early to review the economic-policy - and
particularly budgetary - guidelines adopted pursuant to Article 3 of the said
Decision ;
Whereas appropriate adjustment of the timetable for preparing the annual report
on the economic situation of the Community would make it possible both to use
new , sufficient , information and to adopt the annual report early enough for
the national Parliaments to take it into account in budget debates ;
HAS ADOPTED THIS DECISION :
                                Article 1
The first sentence of Article 4 of the Decision of the Council of 18 February
1974 on the attainment of a high degree of convergence of economic policies of
the Member States of the European Economic Community shall be deleted and re­
placed by the following : "A' third examination shall take place during the fourth
quarter".
 (1 ) OJ No L 63, 5 March 1974, p. 16 .
 ---pagebreak---                              Article 2
This Decision ie addressed to the Member States .
Done at Brussels , •••••••••
                                                  For the Council
                                                   The President