Hongaars voorzitterschap vertrouwt op steun Europarlement voor voorstellen economisch toezicht (en)

“I hope the Parliament will be able to conclude on the six-pack in the next days or next weeks,” Minister for National Economy, György Matolcsy said on 21 June, 2011 in the European Parliament (EP), in the hearing where he gave an account to the Committee on Economic and Monetary Affairs, about the accomplishments of the Presidency’s term. The MEPs unanimously appreciated the activity of the Hungarian Presidency.

The Council has completed two historical structural reforms during the term of the Hungarian Presidency: it prepared the package of six legislative proposals for a first reading agreement with the Parliament, and in the Economic and Financial Affairs Council’s meeting on 20 June. It also successfully completed the first integrated economic policy coordination cycle, the European Semester.

“We have accomplished a lot with your help,” Mr. Matolcsy said, appreciating the EP Committee’s excellent cooperation in the recent months.The Parliament has been a „strategic partner” of the Presidency, Mr. Matolcsy said. He also added that the Commission was a key actor in the negotiations. He mentioned several times that the institutes could cooperate very efficiently. It is true that sometimes, “They had to step out of their own shadows,” he remarked in response to the question of an MEP.

The Minister reminded others that the package of six legislative proposals has been the main priority of the Hungarian Presidency, without it,the comprehensive response of the Union to the crisis cannot be complete. He stressed that after the Lisbon Treaty came into force, it has been the first time when the Parliament and the Council have adopted legislation in a co-decision procedure in the field of economic policy.

He considered the cooperation of the two institutes very productive. I have to admit that in my opinion, the Parliament’s amendments have improved the texts considerably; Mr. Matolcsy said and thanked the MEPs for submitting over two thousand amendment motions.

Mr. Matolcsy highlighted, “The objective of both the Parliament and the Council is to minimise the possibility of future economic shocks.” The strengthening of the economic governance of the EU and the eurozone serve that purpose.

Later on, in response to MEPs questions Mr. Matolcsy said that, “The credibility of the EU is at stake.” He warned that the crisis is not over yet, and the EU is very much in need of a final agreement.

After most of the MEPs expressed their doubts the Council’s general approach, which was adopted the previous day, contained enough compromise, Mr. Matolcsy reiterated, “I am still optimistic that in a few days or weeks time, the final agreement will be reached.” He pointed out that the decision-makers are under heavy pressure, and they must do their utmost to avoid repeating past mistakes. Finally, he cited the Latin saying “Crescit sub pondere palma” (Under heavy burden the palm tree grows), reminding that crises have always strengthened the EU.

Mr. András Kármán, Minister of State for Taxation and Financial Affairs of the Ministry of National Economy, the chief rapporteur of the Presidency on the six-pack, was also given the floor in the EP hearing. He gave a detailed outline to the representatives, about the issues of the six legislative proposals where the Council met the EP halfway.

The Minister of State pointed out that the Presidency is convinced that accomplishments in the field of financial regulation are also important elements of the EU’s response to the crisis. The Presidency has managed to proceed with five legislative dossiers, preliminary Council conclusions have been adopted on short selling, the directive on the Single Euro Payment Area and the directive on deposit guarantee systems; so the three-party inter-institutional negotiations (trialogue), can now begin on the first reading adoption of the legislation. Significant progress has been made in the Council on the regulation on financial derivatives and on the issue of the so-called Omnibus 2 directive, Mr. Kármán said.