Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-03-31-Speech-3-076"
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"en.20040331.3.3-076"2
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".
Mr President, I would like to make a statement in relation to the proposal for a directive of the European Parliament and of the Council to establish a new financial services committee organisational structure. In particular I wish to bring to the attention of the House the contents of a letter which was sent by the President-in-Office of Ecofin, Minister Charlie McCreevy TD, on 24 March to the Chair of the Committee on Economic and Monetary Affairs, Mrs Randzio-Plath. The contents of the letter are as follows:
'Concerning the proposal for a directive to establish a new financial services committee organisational structure, presented by the Commission on 5 November 2003, I would like to clarify a few points which have been raised during the contacts between the Council and the European Parliament. When in March 2001 the Stockholm European Council took the decision to apply the Lamfalussy approach in the securities sector, the following passage was included in the Presidency Conclusions: ‘The European Council notes that, within the framework of the comitology decision of 28 June 1999, the Commission has committed itself, in order to find a balanced solution for those cases of implementing measures in the field of securities markets acknowledged in the light of the discussions to be particularly sensitive, to avoid going against predominant views which might emerge within the Council as to the appropriateness of such measures. This commitment shall not constitute a precedent.’
'The Council, noting that this commitment on behalf of the Commission does not constitute a precedent, and taking into account the function of the Lamfalussy approach in the securities sector, will not ask the Commission to make a similar undertaking within the framework of the extension of the Lamfalussy approach to the banking and the insurance sectors.
'Concerning the question of interinstitutional balance, you will recall the statement of the representatives of the governments of the Member States meeting within Council on 9 December 2002, wherein they decided that they would draw the attention of their Heads of State and Government to the importance of a revision of Article 202 of the EC Treaty and invited them to consider this question in the preparation of the Intergovernmental Conference. We now have on the table of the Intergovernmental Conference a draft Constitutional Treaty which regulates the delegation to the Commission of the power to enact delegated regulations. The Treaty is not agreed yet, but I can affirm to you that the representatives of the governments of the Member States meeting within the Council favour the idea of a balanced legislative system in accordance with the principles set out in Part I, Article 35, of the draft Treaty.'"@en1
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