BETA


1998/0128(CNS) Euro 1999: convergence, Economic and monetary Union EMU. Commission and EMI reports

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON VON WOGAU Karl (icon: PPE PPE)
Committee Opinion BUDG
Lead committee dossier:
Legal Basis:
EC before Amsterdam E 109J-p2

Events

1998/05/11
   Final act published in Official Journal
1998/05/01
   EP/CSL - Act adopted by Council after consultation of Parliament
1998/05/01
   EP - End of procedure in Parliament
1998/05/01
   CSL - Council Meeting
1998/04/30
   EP - Text adopted by Parliament, 1st reading/single reading
1998/04/30
   EP - Decision by Parliament
Documents
1998/04/29
   EP - Debate in Parliament
Details

Welcoming the fact that the criteria defined by the Maastricht Treaty had allowed a culture of stability to develop in Europe, the rapporteur considered that 11 candidate countries had qualified for entry into monetary union. He also stressed that the financial markets were counting on a stable start for the euro at the beginning of the following year and concluded by stating that the single monetary policy also required more harmonised economic and fiscal policy. Commissioner de Silguy firstly looked back at the approach which had led to the launch of EMU. He therefore recalled: - the political will expressed by the European Council since 1995 which had allowed the Member States to improve their public finances and reduce their deficits; - the convergence as a result of which the average deficit of the 11 countries recommended for entry into monetary union had reduced to 2.5%. This had been accompanied by an effective reduction in public debt and interest rates at historically low levels; - the systematic preparation for the introduction of the euro by establishing the euro’s legal framework and the Stability and Growth Pact, and the preparation of the coins and notes. The Commissioner also cited the objectives for the third phase: continuation of the budgetary improvement, the challenge of employment to which the approach developed for EMU should henceforth be applied and the international dimension of the euro and the steps to ensure acceptance of the new currency by everyone. Repeating the words of one speaker, Mr de Silguy concluded that ‘We have made the euro and now we have to make Europe’.

1998/04/16
   EP - Committee opinion
Documents
1998/04/15
   EP - Committee report tabled for plenary, 1st reading/single reading
1998/04/15
   EP - Vote in committee
1998/04/15
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
1998/04/14
   EP - Amendments tabled in committee
Documents
1998/04/03
   EP - Committee referral announced in Parliament
1998/03/31
   EP - Committee draft report
Documents
1998/03/25
   ECB - Supplementary legislative basic document
Documents
1998/03/25
   EC - Legislative proposal published
1997/01/22
   EP - VON WOGAU Karl (PPE) appointed as rapporteur in ECON

Documents

  • Text adopted by Parliament, 1st reading/single reading: OJ C 152 18.05.1998, p. 0016-0033
  • Text adopted by Parliament, 1st reading/single reading: T4-0233/1998
  • Decision by Parliament: T4-0233/1998
  • Debate in Parliament: Debate in Parliament
  • Committee opinion: PE225.331/DEF
  • Committee report tabled for plenary, 1st reading/single reading: A4-0130/1998
  • Committee report tabled for plenary, 1st reading/single reading: OJ C 152 18.05.1998, p. 0004
  • Committee report tabled for plenary, 1st reading/single reading: A4-0130/1998
  • Amendments tabled in committee: PE226.348/AM-
  • Committee draft report: PE226.348
  • Supplementary legislative basic document: N4-0201/1998
  • Legislative proposal published: EUR-Lex
  • Legislative proposal published: COM(1998)1999
  • Supplementary legislative basic document: N4-0201/1998
  • Committee draft report: PE226.348
  • Amendments tabled in committee: PE226.348/AM-
  • Committee report tabled for plenary, 1st reading/single reading: A4-0130/1998 OJ C 152 18.05.1998, p. 0004
  • Committee opinion: PE225.331/DEF
  • Text adopted by Parliament, 1st reading/single reading: OJ C 152 18.05.1998, p. 0016-0033 T4-0233/1998

History

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

docs/3
date
1998-04-15T00:00:00
docs
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Committee report tabled for plenary, 1st reading/single reading
body
EP
docs/3
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1998-04-15T00:00:00
docs
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Committee report tabled for plenary, 1st reading/single reading
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EP
events/1/type
Old
Committee referral announced in Parliament, 1st reading/single reading
New
Committee referral announced in Parliament
events/2/type
Old
Vote in committee, 1st reading/single reading
New
Vote in committee
events/3/docs/0/url
Old
http://www.europarl.europa.eu/doceo/document/A-4-1998-0130_EN.html
New
https://www.europarl.europa.eu/doceo/document/A-4-1998-0130_EN.html
events/4/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=19980429&type=CRE
New
https://www.europarl.europa.eu/doceo/document/EN&reference=19980429&type=CRE
events/5/type
Old
Decision by Parliament, 1st reading/single reading
New
Decision by Parliament
procedure/final/url
Old
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:1998:139:TOC
New
https://eur-lex.europa.eu/JOHtml.do?uri=OJ:L:1998:139:SOM:EN:HTML
committees/0
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committee
ECON
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committees/0
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committee
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    1998-04-15T00:00:00
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    New
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    procedure/final/url
    Old
    https://eur-lex.europa.eu/JOHtml.do?uri=OJ:L:1998:139:SOM:EN:HTML
    New
    https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:1998:139:TOC
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    • body: EP committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: ECON date: 1997-01-22T00:00:00 committee_full: Economic and Monetary Affairs, Industrial Policy rapporteur: group: PPE name: VON WOGAU Karl docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A4-1998-130&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A4-0130/1998 date: 1998-04-15T00:00:00 type: Vote in committee, 1st reading/single reading
    • date: 1998-04-29T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=19980429&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
    • date: 1998-04-30T00:00:00 docs: type: Decision by Parliament, 1st reading/single reading title: T4-0233/1998 body: EP type: Decision by Parliament, 1st reading/single reading
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    • date: 1998-05-01T00:00:00 body: EP type: End of procedure in Parliament
    • date: 1998-05-01T00:00:00 body: EP/CSL type: Act adopted by Council after consultation of Parliament
    • date: 1998-05-11T00:00:00 type: Final act published in Official Journal
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    council
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    docs
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    • date: 1998-03-31T00:00:00 docs: title: PE226.348 type: Committee draft report body: EP
    • date: 1998-04-14T00:00:00 docs: title: PE226.348/AM- type: Amendments tabled in committee body: EP
    • date: 1998-04-15T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A4-1998-130&language=EN title: A4-0130/1998 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C:1998:152:TOC title: OJ C 152 18.05.1998, p. 0004 type: Committee report tabled for plenary, 1st reading/single reading body: EP
    • date: 1998-04-16T00:00:00 docs: title: PE225.331/DEF committee: EMPL type: Committee opinion body: EP
    • date: 1998-04-30T00:00:00 docs: url: https://eur-lex.europa.eu/JOHtml.do?uri=OJ:C:1998:152:SOM:EN:HTML title: OJ C 152 18.05.1998, p. 0016-0033 title: T4-0233/1998 summary: type: Text adopted by Parliament, 1st reading/single reading body: EP
    events
    • date: 1998-03-25T00:00:00 type: Legislative proposal published body: EC docs: url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=1998&nu_doc=1999 title: EUR-Lex title: COM(1998)1999 summary:
    • date: 1998-04-03T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
    • date: 1998-04-15T00:00:00 type: Vote in committee, 1st reading/single reading body: EP summary:
    • date: 1998-04-15T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A4-1998-130&language=EN title: A4-0130/1998
    • date: 1998-04-29T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=19980429&type=CRE title: Debate in Parliament summary: Welcoming the fact that the criteria defined by the Maastricht Treaty had allowed a culture of stability to develop in Europe, the rapporteur considered that 11 candidate countries had qualified for entry into monetary union. He also stressed that the financial markets were counting on a stable start for the euro at the beginning of the following year and concluded by stating that the single monetary policy also required more harmonised economic and fiscal policy. Commissioner de Silguy firstly looked back at the approach which had led to the launch of EMU. He therefore recalled: - the political will expressed by the European Council since 1995 which had allowed the Member States to improve their public finances and reduce their deficits; - the convergence as a result of which the average deficit of the 11 countries recommended for entry into monetary union had reduced to 2.5%. This had been accompanied by an effective reduction in public debt and interest rates at historically low levels; - the systematic preparation for the introduction of the euro by establishing the euro’s legal framework and the Stability and Growth Pact, and the preparation of the coins and notes. The Commissioner also cited the objectives for the third phase: continuation of the budgetary improvement, the challenge of employment to which the approach developed for EMU should henceforth be applied and the international dimension of the euro and the steps to ensure acceptance of the new currency by everyone. Repeating the words of one speaker, Mr de Silguy concluded that ‘We have made the euro and now we have to make Europe’.
    • date: 1998-04-30T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: title: T4-0233/1998 summary:
    • date: 1998-05-01T00:00:00 type: Act adopted by Council after consultation of Parliament body: EP/CSL
    • date: 1998-05-01T00:00:00 type: End of procedure in Parliament body: EP
    • date: 1998-05-11T00:00:00 type: Final act published in Official Journal
    other
      procedure/dossier_of_the_committee
      Old
      ECON/4/09943
      New
      • ECON/4/09943
      procedure/final/title
      Old
      OJ L 139 11.05.1998, p. 0021-0027
      New
      OJ L 139 11.05.1998, p. 0021-0027
      procedure/final/url
      Old
      http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:1998:139:TOC
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      procedure/legal_basis/0
      EC before Amsterdam E 109J-p2
      procedure/legal_basis/0
      EC before Amsterdam E 109-p2
      procedure/subject
      Old
      • 5.10.01 Convergence of economic policies, public deficit, interest rates
      New
      5.10.01
      Convergence of economic policies, public deficit, interest rates
      links/European Commission/title
      Old
      PreLex
      New
      EUR-Lex
      activities
      • date: 1998-03-25T00:00:00 docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=1998&nu_doc=1999 celexid: CELEX:51998PC1999:EN type: Legislative proposal published title: COM(1998)1999 type: Legislative proposal published body: EC commission:
      • date: 1998-04-03T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: ECON date: 1997-01-22T00:00:00 committee_full: Economic and Monetary Affairs, Industrial Policy rapporteur: group: PPE name: VON WOGAU Karl
      • body: EP committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: ECON date: 1997-01-22T00:00:00 committee_full: Economic and Monetary Affairs, Industrial Policy rapporteur: group: PPE name: VON WOGAU Karl docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A4-1998-130&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A4-0130/1998 date: 1998-04-15T00:00:00 type: Vote in committee, 1st reading/single reading
      • date: 1998-04-29T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=19980429&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
      • date: 1998-04-30T00:00:00 docs: type: Decision by Parliament, 1st reading/single reading title: T4-0233/1998 body: EP type: Decision by Parliament, 1st reading/single reading
      • date: 1998-05-01T00:00:00 body: CSL type: Council Meeting council: Economic and Financial Affairs ECOFIN meeting_id: 2087
      • date: 1998-05-01T00:00:00 body: EP type: End of procedure in Parliament
      • date: 1998-05-01T00:00:00 body: EP/CSL type: Act adopted by Council after consultation of Parliament
      • date: 1998-05-11T00:00:00 type: Final act published in Official Journal
      committees
      • body: EP responsible: False committee_full: Budgets committee: BUDG
      • body: EP responsible: True committee: ECON date: 1997-01-22T00:00:00 committee_full: Economic and Monetary Affairs, Industrial Policy rapporteur: group: PPE name: VON WOGAU Karl
      links
      European Commission
      other
        procedure
        dossier_of_the_committee
        ECON/4/09943
        reference
        1998/0128(CNS)
        instrument
        Recommendation
        legal_basis
        EC before Amsterdam E 109-p2
        stage_reached
        Procedure completed
        subtype
        Legislation
        title
        Euro 1999: convergence, Economic and monetary Union EMU. Commission and EMI reports
        type
        CNS - Consultation procedure
        final
        subject
        5.10.01 Convergence of economic policies, public deficit, interest rates