2006/2206(INI) | [ParlTrack]

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General Activities Documents History

2006/2206(INI) European Central Bank: annual report

Role	Committee	Rapporteur	Shadows
Lead	ECON	BERÈS Pervenche (PSE)

Lead committee dossier: ECON/6/34935
Legal Basis RoP 052

Subjects

5.20.03 European Central Bank (ECB), ESCB

Links

Activites

2006/10/26 Results of vote in Parliament
- Results of vote in Parliament
- Debate in Parliament
- T6-0464/2006 summary
  
  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.
2006/10/13 Committee report tabled for plenary, single reading
- A6-0349/2006
2006/10/10 Vote in committee, 1st reading/single reading
2006/09/07 Committee referral announced in Parliament, 1st reading/single reading

Documents

Committee report tabled for plenary, single reading: A6-0349/2006
Results of vote in Parliament: Results of vote in Parliament
Debate in Parliament: Debate in Parliament
Decision by Parliament, 1st reading/single reading: T6-0464/2006

History

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

2019-07-06Show (12) Changes | Timetravel

activities	date: 2006-09-07T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: ECON date: 2006-03-14T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: BERÈS Pervenche date: 2006-10-10T00:00:00 body: EP committees: body: EP responsible: True committee: ECON date: 2006-03-14T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: BERÈS Pervenche type: Vote in committee, 1st reading/single reading date: 2006-10-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2006-349&language=EN type: Committee report tabled for plenary, single reading title: A6-0349/2006 body: EP type: Committee report tabled for plenary, single reading date: 2006-10-26T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=12720&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20061026&type=CRE type: Debate in Parliament title: Debate in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2006-464 type: Decision by Parliament, 1st reading/single reading title: T6-0464/2006 body: EP type: Results of vote in Parliament
commission	body: EC dg: Economic and Financial Affairs commissioner: ALMUNIA Joaquín
committees/0	type Responsible Committee body EP associated False committee_full Economic and Monetary Affairs committee ECON date 2006-03-14T00:00:00 rapporteur name: BERÈS Pervenche group: Socialist Group in the European Parliament abbr: PSE
committees/0	body EP responsible True committee ECON date 2006-03-14T00:00:00 committee_full Economic and Monetary Affairs rapporteur group: PSE name: BERÈS Pervenche
docs	date: 2006-08-28T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE376.772 title: PE376.772 type: Committee draft report body: EP date: 2006-09-19T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE378.669 title: PE378.669 type: Amendments tabled in committee body: EP date: 2006-10-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2006-349&language=EN title: A6-0349/2006 type: Committee report tabled for plenary, single reading body: EP date: 2006-11-23T00:00:00 docs: url: /oeil/spdoc.do?i=12720&j=0&l=en title: SP(2006)5316-2 type: Commission response to text adopted in plenary
events	date: 2006-09-07T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP date: 2006-10-10T00:00:00 type: Vote in committee, 1st reading/single reading body: EP summary: 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. date: 2006-10-13T00:00:00 type: Committee report tabled for plenary, single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2006-349&language=EN title: A6-0349/2006 date: 2006-10-26T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=12720&l=en title: Results of vote in Parliament date: 2006-10-26T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20061026&type=CRE title: Debate in Parliament date: 2006-10-26T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2006-464 title: T6-0464/2006 summary: 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. date: 2006-10-26T00:00:00 type: End of procedure in Parliament body: EP
links
other	body: EC dg: url: http://ec.europa.eu/dgs/economy_finance/index_en.htm title: Economic and Financial Affairs commissioner: ALMUNIA Joaquín
procedure/dossier_of_the_committee	Old ECON/6/34935 New ECON/6/34935
procedure/legal_basis/0	Rules of Procedure EP 052
procedure/legal_basis/0	Rules of Procedure of the European Parliament EP 052
procedure/subject	Old 5.20.03 European Central Bank (ECB), ESCB New 5.20.03 European Central Bank (ECB), ESCB

2014-11-10Show (5) Changes

activities	date: 2006-09-07T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: ECON date: 2006-03-14T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: BERÈS Pervenche date: 2006-10-10T00:00:00 body: EP committees: body: EP responsible: True committee: ECON date: 2006-03-14T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: BERÈS Pervenche type: Vote in committee, 1st reading/single reading date: 2006-10-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2006-349&language=EN type: Committee report tabled for plenary, single reading title: A6-0349/2006 body: EP type: Committee report tabled for plenary, single reading date: 2006-10-26T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=12720&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20061026&type=CRE type: Debate in Parliament title: Debate in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2006-464 type: Decision by Parliament, 1st reading/single reading title: T6-0464/2006 body: EP type: Results of vote in Parliament
committees	body: EP responsible: True committee: ECON date: 2006-03-14T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: BERÈS Pervenche
links
other	body: EC dg: url: http://ec.europa.eu/dgs/economy_finance/index_en.htm title: Economic and Financial Affairs commissioner: ALMUNIA Joaquín
procedure	dossier_of_the_committee ECON/6/34935 reference 2006/2206(INI) title European Central Bank: annual report legal_basis Rules of Procedure of the European Parliament EP 052 stage_reached Procedure completed subtype Initiative type INI - Own-initiative procedure subject 5.20.03 European Central Bank (ECB), ESCB

Activites

Documents

History

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