CELEX: 31969D0227
Language: en
Date: 1969-07-17 00:00:00
Title: 69/227/EEC: Council Decision of 17 July 1969 on co-ordination of the short-term economic policies of the Member States

350                                  Official Journal of the European Communities
  25.7.69                             Official Journal of the European Communities                          No L 183 /41
                                                  COUNCIL DECISION
                                                      of 17 July 1969
                     on co-ordination of the short-term economic policies of the Member States
                                                       (69/227/EEC)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                         economy and the medium-term economic objectives
                                                                 determined jointly. These consultations should
Having regard to the Treaty establishing the                     embrace overall budgetary policy and fiscal measures
 European Economic Community, and in particular                  designed to have a direct effect on foreign trade.
 Articles 103 (2) and 105 ( 1 ) thereof;
                                                                                        Article 2
 Having regard to the proposal from the Commission;
                                                                 These consultations shall be held in the Monetary
 Whereas, owing to the increasing interpenetration of            Committee, the Conjunctural Policy Committee and
 the economies of the Member States, close                       the Budgetary Policy Committee.
 co-ordination of their internal and external short-term
 economic policies is necessary to achieve continuous            Any Member State or the Commission may, in cases
and adequate economic growth, a high level of                    of particular importance, ask for the consultation to
employment, external equilibrium and a stable price              be held in the Council, which, in such a case, shall
level; whereas to that end it is particularly important          meet without delay.
to hold the necessary consultations in good time;
                                                                 Appropriate rules for consultation shall be laid down
Whereas the co-ordination of short-term economic                 by the Council on a proposal from the Commission,
policies   should    also   take     into   account    the       which shall first obtain the Opinions of the
medium-term economic objectives which have been                  Committees concerned.
determined jointly;
Whereas it is necessary to extend and make more                                         Article 3
systematic the procedure for prior consultations on              Any Member State or the Commission may, in
important short-term economic policy decisions or                accordance with the procedure laid down in Article
measures by Member States which may substantially                2, request that consultations be held if it considers
affect the economies of other Member States ;                    that the economic developments in one Member State
                                                                 may have the effects referred to in Article 1 .
HAS ADOPTED THIS DECISION :
                                                                                        Article 4
                        Article 1
                                                                 The Member States shall adopt the decisions or
Prior consultations shall be held on important                   measures referred to above only when the
short-term economic policy measures or decisions                 consultations referred to in Article 1 have taken
taken by a Member State which substantially affect               place, unless circumstances require otherwise.
the economies of the other Member States or the
internal or external equilibrium of the Member State                                    Article 5
concerned or which might cause a substantial
divergence between the trend of one country's                    This Decision is addressed to the Member States .
             Done at Brussels, 17 July 1969.
                                                                                      For the Council
                                                                                       The President
                                                                                     H. J. WITTEVEEN