Activites

• 1998/07/03 Final act published in Official Journal
  • Decision 1998/415
  • OJ L 189 03.07.1998, p. 0042
• #2111
• 1998/06/29 Council Meeting
• 1998/06/29 End of procedure in Parliament
• 1998/06/29 Act adopted by Council after consultation of Parliament
• 1998/05/28 Decision by Parliament, 1st reading/single reading
  • T4-0316/1998 summary

    In adopting the report by Mr Fernand HERMAN (PPE, B), the European Parliament makes a number of substantial amendments to the Commission proposals concerning the mandatory consultation of the European Central Bank by the national authorities in accordance with the Treaties before adopting rules governing its terms of reference. The European Parliament firstly recommends that Member States as a general rule abstain from drawing up new rules or provisions on matters concerning the terms of reference of the ECB, in particular monetary questions, means and systems of payment and settlements. Parliament takes the view that these matters should be progressively harmonized at Community level in accordance with the procedures laid down by the Treaties. Only in emergencies should Member States be able to settle such matters and only then after consulting the ECB and taking its views into account. If the national authorities fail to consult or take account of the opinion of the ECB, the latter should inform the Member State concerned and the Commission of its opinion or its opposition to the proposed measure. The Commission is required to propose a solution within a month during which time the Member State concerned must suspend implementation of the rules. If the solution proposed by the Commission is not accepted by the Member State concerned, the question should be settled by a majority vote within the Council of Ministers.�

• 1998/05/27 Debate in Parliament
  • Debate in Parliament
• 1998/05/20 Vote in committee, 1st reading/single reading
  • A4-0195/1998
• 1998/03/13 Committee referral announced in Parliament, 1st reading/single reading
• #2072
• 1998/03/09 Council Meeting
  • 2072
• 1998/02/20 Legislative proposal published
  • COM(1997)0725 summary

    OBJECTIVE: to ensure the practical functioning of the European System of Central Banks and the European Central Bank (ECB). SUBSTANCE: the proposal for a Council Decision seeks to set out within which limits and under which conditions the authorities of the Member States must consult the ECB on any draft legislative provision within its field of competence. The obligations will be similar to those currently applying to national authorities with regard to draft legislative provisions that fall within the field of competence of the European Monetary Institute (EMI). The draft Decision seeks to ensure that the ECB is consulted at an early stage in the decision-making process and that adequate time is provided to the ECB to formulate its views. Consultation on draft legislation is obligatory in order to ensure that the authority which has been given tasks in the monetary and financial field has an opportunity to give its assessment of measures envisaged by other bodies, either at the level of the Community or in Member States, which have a bearing on its field of competence. Allowance is made for the particularities of the legal systems of the Member States. In particular, Member States are given flexibility in organizing the consultations of their various authorities with the ECB in the light of their specific practices. �

Documents

• Legislative proposal published: COM(1997)0725
• Debate in Council: 2072
• Committee report tabled for plenary, 1st reading/single reading: A4-0195/1998
• Debate in Parliament: Debate in Parliament
• Decision by Parliament, 1st reading/single reading: T4-0316/1998
• : Decision 1998/415
• : OJ L 189 03.07.1998, p. 0042

History

(these mark the time of scraping, not the official date of the change)