Slovenian National Assembly

Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area

Scrutiny details

Subsidiarity deadline: 09/02/2012
 
Scrutiny Information

Scrutiny date: 22/02/2012

Subsidiarity Concern:

No Important information to exchange

No Veto

Information on parliamentary scrutiny

Passed on to the Committee on Finance and Monetary Policy. The document has been discussed at its 6th extraordinary meeting of  1 February 2012.

 

And at its 5th meeting of 10 February 2012 the Committee on EU Affairs of the National Assembly of the Republic of Slovenia adopted the following Position:

 

The Republic of Slovenia believes that in terms of procedures and reporting, the euro area Member States involved in assistance programmes should be treated separately. Moreover, Slovenia believes that the wording of the Regulation should restrict the powers of the Commission in deciding when a country is experiencing severe difficulties with regard to its financial stability. The introductory provisions specify that a Member State failing to honour the commitments from the agreed economic programme may be sanctioned with suspension of financing from the cohesion policy, the rural development fund, and the fisheries fund. According to Slovenia, the said measure should include all EU budgets as well as funds from the European Investment Bank.

 

Slovenia will also stand for amending the wording of the following articles:

- Article 2 should provide that the decision to make a Member State subject to enhanced surveillance is not merely within the competence of the Commission but that all euro area Member States should be actively involved therein.

 

- Article 3, particularly paragraphs 5 and 6, should be rephrased so as to allow also the Member States themselves to seek financial assistance. The Council recommendation on the proposal from the Commission could in fact lead to stigmatisation of a Member State, which could have negative impacts on the markets.


Contact points for EU matters

IPEX Correspondents:
Phone: 00 386 4789920  Email Mrs. Aleksandra-Saša Lavrič Phone: 00 386 4789822  Email Ms. Polona Klemenčič
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