2006/2206(INI) European Central Bank: annual report
Lead committee dossier:
Progress: Procedure completed
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON |
BERÈS Pervenche ( PSE)
|
Lead committee dossier:
Legal Basis:
RoP 54
Legal Basis:
RoP 54Events
2006/11/23
EC - Commission response to text adopted in plenary
Documents
2006/10/26
EP - Results of vote in Parliament
Documents
2006/10/26
EP - Debate in Parliament
Documents
2006/10/26
EP - Decision by Parliament
Details
The European Parliament adopted a resolution based on the own-initiative report by Pervenche BERÈS (PES, FR) in response to the 2005 annual report of the European Central Bank. (Please see the summary of 10/10/2006.) The report was adopted by 157 votes in favour to 49 against with 84 abstentions. Several amendments were tabled by the EPP group. However, on the question of appointments to the ECB board, Parliament emphasised that that the nationality of appointees should be irrelevant and that they will continue to be judged by the strict criteria of the Treaty, such as that of their qualifications. It felt, however, that ex-ante democratic accountability and transparency would improve if the Council evaluated several potential candidates and if the candidate proposed by the Council were then subject to a vote of approval by the Parliament.
Documents
2006/10/26
EP - End of procedure in Parliament
2006/10/13
EP - Committee report tabled for plenary, single reading
Documents
2006/10/13
EP - Committee report tabled for plenary
Documents
2006/10/10
EP - Vote in committee
Details
The committee adopted the own-initiative report drawn up by Pervenche BERÈS (PES, FR) in response to the 2005 annual report of the European Central Bank.
The committee praised the ECB’s policy of “concentrating on its most important objective, preserving price stability,” and said that it was correct to increase rates in 2005. The report stressed that the Bank must be aware of the risks to growth of continuous rate rises, and must continue to anchor inflationary expectations at levels consistent with price stability.
On appointments to the ECB Executive Board, MEPs emphasised that nationality should be irrelevant. While stressing the treaty requirement for candidates with experience of monetary and banking matters, they also argued that it is important for a variety of backgrounds to be represented on the Board.
The committee emphasised that the credibility of the ECB is also dependent on a high degree of transparency in its decision-making process and called once again for the publication of summary minutes of meetings of the ECB Governing Council, with clear statements of the arguments in favour and against decisions taken and the reasons why these decisions were taken. However, it warned that this should not replace the current press conferences by the ECB President after such meetings, which provide “an invaluable and timely insight for observers and market participants”.
The report called on the ECB to take action with regard to the “persistently high values of the M3 money supply” and to investigate developments in the mortgage and mergers and acquisitions markets. It also wanted the ECB to examine the reasons for the substantial increase (nearly 21%) in the number of 500 euro banknotes in circulation and to analyse the types of transaction carried out with these notes and the breakdown in demand by country.
The committee emphasised the risks inherent in rapid adjustments to international disequilibria, and noted that the Council has responsibility for exchange rate policy under the Treaty, which does not however set out how that power should be exercised. It invited the Eurogroup, the ECB and the Council to use their powers to the full, and step up coordination of their action in exchange rate policy.
Lastly, the report said that the EU should “take the initiative in the debate which is getting underway globally – especially in the light of developments in the US – about the need to better control the activities of hedge funds”, and called for the ECB to carry out further analyses of the issue.
Although many points in the report resulted from a compromise between the political groups, some contentious issues remained, which led MEPs from the Socialist group to abstain in the final vote at committee stage. A number of amendments are likely to be tabled to the plenary.
2006/09/19
EP - Amendments tabled in committee
Documents
2006/09/07
EP - Committee referral announced in Parliament
2006/08/28
EP - Committee draft report
Documents
2006/03/14
EP - BERÈS Pervenche (PSE) appointed as rapporteur in ECON
Documents
- Commission response to text adopted in plenary: SP(2006)5316-2
- Results of vote in Parliament: Results of vote in Parliament
- Debate in Parliament: Debate in Parliament
- Decision by Parliament: T6-0464/2006
- Committee report tabled for plenary, single reading: A6-0349/2006
- Committee report tabled for plenary: A6-0349/2006
- Amendments tabled in committee: PE378.669
- Committee draft report: PE376.772
- Committee draft report: PE376.772
- Amendments tabled in committee: PE378.669
- Committee report tabled for plenary, single reading: A6-0349/2006
- Commission response to text adopted in plenary: SP(2006)5316-2
Activities
- Alejo VIDAL-QUADRAS
Plenary Speeches (3)
- Pervenche BERÈS
Plenary Speeches (2)
- Alexander Nuno PICKART ALVARO
Plenary Speeches (1)
- Jean-Pierre AUDY
Plenary Speeches (1)
- Ieke van den BURG
Plenary Speeches (1)
- Brian CROWLEY
Plenary Speeches (1)
- Robert GOEBBELS
Plenary Speeches (1)
- Jacky HÉNIN
Plenary Speeches (1)
- Wolf KLINZ
Plenary Speeches (1)
- Kurt Joachim LAUK
Plenary Speeches (1)
- Jules MAATEN
Plenary Speeches (1)
- Jean-Claude MARTINEZ
Plenary Speeches (1)
- Ashley MOTE
Plenary Speeches (1)
- Neil PARISH
Plenary Speeches (1)
- Alexander RADWAN
Plenary Speeches (1)
- Dariusz ROSATI
Plenary Speeches (1)
- Antolín SÁNCHEZ PRESEDO
Plenary Speeches (1)
- John WHITTAKER
Plenary Speeches (1)
Votes
Rapport Berès A6-0349/2006 - am. 8 #
2006/10/26 Outcome: -: 190, +: 130, 0: 3
| FR | PT | AT | ES | DK | MT | LU | EE | IT | SE | NL | BE | SI | CY | LT | LV | FI | EL | CZ | DE | IE | SK | HU | GB | PL | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total |
28
|
9
|
9
|
11
|
1
|
1
|
4
|
2
|
25
|
10
|
20
|
14
|
2
|
5
|
5
|
3
|
10
|
14
|
16
|
42
|
8
|
9
|
16
|
31
|
28
|
|
| PSE |
89
|
Portugal PSEFor (8) |
5
|
Spain PSEFor (5) |
1
|
1
|
1
|
Italy PSE |
1
|
Netherlands PSEFor (7) |
Belgium PSE |
1
|
2
|
Greece PSE |
1
|
Germany PSEFor (10) |
1
|
1
|
4
|
United Kingdom PSEFor (7) |
Poland PSEFor (5) |
|||||
 GUE/NGL |
19
|
3
|
2
|
2
|
1
|
1
|
1
|
4
|
4
|
1
|
||||||||||||||||
 Verts/ALE |
16
|
2
|
1
|
2
|
1
|
1
|
1
|
1
|
4
|
3
|
||||||||||||||||
 IND/DEM |
9
|
1
|
1
|
2
|
3
|
2
|
||||||||||||||||||||
 NI |
7
|
2
|
Poland NIAgainst (5) |
|||||||||||||||||||||||
 UEN |
10
|
1
|
1
|
2
|
2
|
Poland UEN |
||||||||||||||||||||
 ALDE |
40
|
2
|
1
|
2
|
4
|
2
|
3
|
4
|
1
|
3
|
1
|
4
|
3
|
1
|
2
|
United Kingdom ALDEAgainst (5) |
2
|
|||||||||
 PPE-DE |
133
|
France PPE-DEFor (1)Against (8) |
1
|
2
|
Spain PPE-DE |
2
|
1
|
Italy PPE-DEFor (1)Against (9) |
3
|
Netherlands PPE-DEAgainst (6) |
4
|
2
|
3
|
3
|
Czechia PPE-DEAgainst (11) |
Germany PPE-DEAgainst (21)
Albert DESS,
Alexander RADWAN,
Alfred GOMOLKA,
Anja WEISGERBER,
Bernd POSSELT,
Christoph KONRAD,
Dieter-Lebrecht KOCH,
Elisabeth JEGGLE,
Hans-Peter MAYER,
Hartmut NASSAUER,
Herbert REUL,
Ingeborg GRÄSSLE,
Karl von WOGAU,
Karsten Friedrich HOPPENSTEDT,
Klaus-Heiner LEHNE,
Kurt Joachim LAUK,
Lutz GOEPEL,
Peter LIESE,
Rainer WIELAND,
Thomas ULMER,
Werner LANGEN
|
4
|
Slovakia PPE-DEAgainst (8) |
Hungary PPE-DEAgainst (10) |
United Kingdom PPE-DEAgainst (12) |
Poland PPE-DEAgainst (10) |
Rapport Berès A6-0349/2006 - résolution #
2006/10/26 Outcome: +: 157, 0: 84, -: 49
| DE | IT | HU | NL | PL | SK | BE | GB | LT | IE | FI | CY | FR | EL | SI | EE | ES | DK | LU | SE | PT | MT | LV | AT | CZ | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total |
40
|
24
|
11
|
19
|
25
|
8
|
12
|
26
|
5
|
6
|
8
|
5
|
23
|
13
|
2
|
2
|
8
|
1
|
4
|
9
|
10
|
2
|
3
|
9
|
15
|
|
| PPE-DE |
116
|
Germany PPE-DEFor (20)Albert DESS, Alexander RADWAN, Alfred GOMOLKA, Anja WEISGERBER, Bernd POSSELT, Christa KLASS, Christoph KONRAD, Elisabeth JEGGLE, Hans-Peter MAYER, Hartmut NASSAUER, Herbert REUL, Ingeborg GRÄSSLE, Karl von WOGAU, Karsten Friedrich HOPPENSTEDT, Klaus-Heiner LEHNE, Kurt Joachim LAUK, Lutz GOEPEL, Rainer WIELAND, Thomas ULMER, Werner LANGEN
|
Italy PPE-DEFor (10) |
Hungary PPE-DEFor (9) |
Netherlands PPE-DEFor (5) |
Poland PPE-DEFor (8)Abstain (1) |
Slovakia PPE-DEFor (7) |
4
|
United Kingdom PPE-DEFor (8)Against (4) |
4
|
1
|
3
|
France PPE-DEFor (5)Against (1) |
Greece PPE-DE |
2
|
1
|
2
|
2
|
1
|
1
|
Czechia PPE-DEFor (4)Against (6) |
|||||
| ALDE |
36
|
Germany ALDE |
3
|
2
|
3
|
1
|
3
|
4
|
3
|
1
|
4
|
1
|
2
|
1
|
2
|
1
|
1
|
|||||||||
| PSE |
76
|
Germany PSEFor (1)Abstain (9) |
Italy PSE |
Netherlands PSEFor (2)Abstain (5) |
Poland PSEFor (1)Abstain (3) |
Belgium PSEAbstain (5) |
4
|
1
|
2
|
France PSE |
Greece PSE |
1
|
Spain PSEAbstain (3) |
1
|
1
|
Portugal PSE |
2
|
5
|
1
|
|||||||
| UEN |
8
|
1
|
Poland UEN |
1
|
1
|
1
|
||||||||||||||||||||
| IND/DEM |
8
|
2
|
2
|
2
|
1
|
1
|
||||||||||||||||||||
| NI |
11
|
2
|
Poland NIFor (2)Against (3) |
1
|
2
|
1
|
||||||||||||||||||||
| Verts/ALE |
16
|
Germany Verts/ALEAgainst (2)Abstain (2) |
1
|
3
|
2
|
2
|
1
|
1
|
1
|
1
|
||||||||||||||||
| GUE/NGL |
19
|
2
|
3
|
2
|
1
|
1
|
1
|
2
|
2
|
1
|
Czechia GUE/NGLAgainst (3)Abstain (1) |
History
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