Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-24-Speech-4-173-000"
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"en.20120524.19.4-173-000"2
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"The EU’s macro-financial assistance has been provided since 1990 as assistance of a macro-economic nature to third countries experiencing short-term balance of payments difficulties. A total of 55 MFA decisions benefiting 23 countries have so far been approved, amounting to EUR 7.2 billion, in the form of grants or loans, or a combination of the two. Until now, the EU has taken MFA decisions based on the basis of the ‘Genval criteria’ of October 2002 which have been subject to case-by-case legislative decisions. Deeming this situation unsatisfactory, the EP’s resolution of 2003 called for a regulatory framework to be drawn up and the Commission’s proposal thus comes as a direct response to this demand. In its staff working paper, the Commission expressed its concerns over the current situation of case by-case legislative decisions, particularly in light of the mandatory eight week consultation of the national parliaments. Although MFA has made a valuable contribution to macro-economic stability in the EU’s neighbourhood, current procedures tend to reduce its effectiveness and transparency. I believe that certain changes will be necessary to establish clear rules and make MFA decision making simpler and more efficient. However, I consider the total removal of parliamentary scrutiny and the introduction of implementing acts for MFA to be unacceptable."@en1
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