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2011/2546(RSP) Resolution on the conclusions of the European Council meeting (8-9 December 2011) on a draft international agreement on a Fiscal Stability Union

Progress: Procedure completed

Legal Basis:
RoP 132-p2

Events

2012/01/18
   EP - Results of vote in Parliament
Documents
Results of vote in Parliament
2012/01/18
   EP - Debate in Parliament
Documents
Debate in Parliament
2012/01/18
   EP - Decision by Parliament
Details

The European Parliament adopted by 521 votes to 124, with 50 abstentions, a resolution on the conclusions of the European Council meeting on 8-9 December 2011 on a draft international agreement on a Fiscal Stability Union .

The text adopted in plenary was tabled as a joint resolution by the EPP, S&D, ALDE and Greens/EFA groups.

Parliament expresses its doubts on the necessity of such an intergovernmental agreement, since it considers that most of the chief objectives of the agreement could be better and more effectively achieved through EU law, thereby giving a firm, urgent and sustainable response to the current financial and economic crises and the social crisis in many Member States. However, Parliament states that it remains ready to work towards a constructive solution.

It is deeply convinced that only through the Community method can the Monetary Union evolve into a true economic and fiscal union, and insists particularly on the following points:

the new agreement shall without ambiguity accept explicitly the primacy of EU law over its provisions; all measures to implement the agreement shall be taken in accordance with the relevant procedures provided for in the EU Treaties; the agreement must be in conformity with EU law, in particular as regards the figures in the Stability and Growth Pact. Where Contracting Parties wish to commit to targets at variance with EU law, this must be done through the applicable EU legal procedures and must not lead to the establishment of double standards; all Contracting Parties to the agreement, present and future members of the euro, should have the same right to participate in the Euro summit meetings; democratic accountability must be respected through a strengthening of Parliamentary participation in all aspects of European economic coordination and governance; cooperation between national parliaments and the European Parliament must operate within the EU Treaties, in accordance with the Treaty; the new agreement must enshrine, in legally binding form, a commitment by the Contracting Parties to take all necessary steps to ensure that the agreement will in substance be integrated at the latest within five years into the Treaty .

Referring to the submissions made to the ad hoc working group by the Members nominated by the Conference of Presidents to represent Parliament, MEPs affirm their support for those submissions, and regret that the draft agreement of 10 January 2012 does not reflect the proposals of the European Parliament . They note that the working group’s submission had support from several Member States. Parliament states that it will consider its position having received the final draft expected on 18 January 2012. It reserves the right to use all political and legal instruments at its disposal to defend EU law and the role of the EU institutions, especially if elements of the final agreement are incompatible with EU law. It stresses that the intergovernmental agreement involves similar institutional, legal and political aspects as multilateral agreements dealing with the financial crisis, such as the European Stability Mechanism. Parliament wishes to participate in the same way in negotiations on this agreement.

Lastly, Members believe that fiscal discipline, whilst the basis for sustainable growth, will not on its own bring about recovery . The agreement must send a clear message that Europe's leaders will take vigorous action on both growth and recovery. Parliament insists therefore that the agreement must include a commitment from the Contracting Parties to measures promoting stronger convergence and competitiveness as well as proposals for: (i) a redemption fund; (ii) project bonds; (iii) a Financial Transaction Tax within EU law and (iv) a roadmap for stability bonds.

Documents
T7-0002/2012
2012/01/18
   EP - End of procedure in Parliament
2012/01/16
   EP - Motion for a resolution
Documents
B7-0003/2012
2012/01/16
   EP - Motion for a resolution
Documents
B7-0004/2012
2012/01/16
   EP - Motion for a resolution
Documents
B7-0011/2012
2012/01/16
   EP - Motion for a resolution
Documents
B7-0012/2012
2012/01/16
   Joint motion for resolution
Documents
RC-B7-0003/2012
2012/01/11
   EP - Motion for a resolution
Documents
B7-0005/2012
2011/12/13
   EP - Debate in Parliament
Documents
Debate in Parliament
2011/12/09
   all - Additional information
Details

conclusions

statement

Documents

Activities

History

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

2021-12-18Show (12) Changes | Timetravel
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events/4
date
2012-01-18T00:00:00
type
Decision by Parliament
body
EP
docs
url: https://www.europarl.europa.eu/doceo/document/TA-7-2012-0002_EN.html title: T7-0002/2012
summary
events/4
date
2012-01-18T00:00:00
type
Decision by Parliament, 1st reading/single reading
body
EP
docs
url: http://www.europarl.europa.eu/doceo/document/TA-7-2012-0002_EN.html title: T7-0002/2012
summary
procedure/legal_basis/0
Rules of Procedure EP 132-p2
procedure/legal_basis/0
Rules of Procedure EP 123-p2
2020-01-19Show (7) Changes | Timetravel
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2019-07-06Show (12) Changes | Timetravel
activities
  • date: 2011-12-09T00:00:00 body: all type: Additional information
  • date: 2011-12-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20111213&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
  • date: 2012-01-18T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=21090&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=20120118&type=CRE type: Debate in Parliament title: Debate in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-2 type: Decision by Parliament, 1st reading/single reading title: T7-0002/2012 body: EP type: Results of vote in Parliament
commission
  • body: EC dg: Secretariat-General commissioner: BARROSO José Manuel
committees
    docs
    • date: 2012-01-11T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-5&language=EN title: B7-0005/2012 type: Motion for a resolution body: EP
    • date: 2012-01-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-3&language=EN title: B7-0003/2012 type: Motion for a resolution body: EP
    • date: 2012-01-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-4&language=EN title: B7-0004/2012 type: Motion for a resolution body: EP
    • date: 2012-01-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-11&language=EN title: B7-0011/2012 type: Motion for a resolution body: EP
    • date: 2012-01-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-12&language=EN title: B7-0012/2012 type: Motion for a resolution body: EP
    • date: 2012-01-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=P7-RC-2012-3&language=EN title: RC-B7-0003/2012 type: Joint motion for resolution
    events
    • date: 2011-12-09T00:00:00 type: Additional information body: all summary: conclusions statement
    • date: 2011-12-13T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20111213&type=CRE title: Debate in Parliament
    • date: 2012-01-18T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=21090&l=en title: Results of vote in Parliament
    • date: 2012-01-18T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20120118&type=CRE title: Debate in Parliament
    • date: 2012-01-18T00:00:00 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=P7-TA-2012-2 title: T7-0002/2012 summary: The European Parliament adopted by 521 votes to 124, with 50 abstentions, a resolution on the conclusions of the European Council meeting on 8-9 December 2011 on a draft international agreement on a Fiscal Stability Union . The text adopted in plenary was tabled as a joint resolution by the EPP, S&D, ALDE and Greens/EFA groups. Parliament expresses its doubts on the necessity of such an intergovernmental agreement, since it considers that most of the chief objectives of the agreement could be better and more effectively achieved through EU law, thereby giving a firm, urgent and sustainable response to the current financial and economic crises and the social crisis in many Member States. However, Parliament states that it remains ready to work towards a constructive solution. It is deeply convinced that only through the Community method can the Monetary Union evolve into a true economic and fiscal union, and insists particularly on the following points: the new agreement shall without ambiguity accept explicitly the primacy of EU law over its provisions; all measures to implement the agreement shall be taken in accordance with the relevant procedures provided for in the EU Treaties; the agreement must be in conformity with EU law, in particular as regards the figures in the Stability and Growth Pact. Where Contracting Parties wish to commit to targets at variance with EU law, this must be done through the applicable EU legal procedures and must not lead to the establishment of double standards; all Contracting Parties to the agreement, present and future members of the euro, should have the same right to participate in the Euro summit meetings; democratic accountability must be respected through a strengthening of Parliamentary participation in all aspects of European economic coordination and governance; cooperation between national parliaments and the European Parliament must operate within the EU Treaties, in accordance with the Treaty; the new agreement must enshrine, in legally binding form, a commitment by the Contracting Parties to take all necessary steps to ensure that the agreement will in substance be integrated at the latest within five years into the Treaty . Referring to the submissions made to the ad hoc working group by the Members nominated by the Conference of Presidents to represent Parliament, MEPs affirm their support for those submissions, and regret that the draft agreement of 10 January 2012 does not reflect the proposals of the European Parliament . They note that the working group’s submission had support from several Member States. Parliament states that it will consider its position having received the final draft expected on 18 January 2012. It reserves the right to use all political and legal instruments at its disposal to defend EU law and the role of the EU institutions, especially if elements of the final agreement are incompatible with EU law. It stresses that the intergovernmental agreement involves similar institutional, legal and political aspects as multilateral agreements dealing with the financial crisis, such as the European Stability Mechanism. Parliament wishes to participate in the same way in negotiations on this agreement. Lastly, Members believe that fiscal discipline, whilst the basis for sustainable growth, will not on its own bring about recovery . The agreement must send a clear message that Europe's leaders will take vigorous action on both growth and recovery. Parliament insists therefore that the agreement must include a commitment from the Contracting Parties to measures promoting stronger convergence and competitiveness as well as proposals for: (i) a redemption fund; (ii) project bonds; (iii) a Financial Transaction Tax within EU law and (iv) a roadmap for stability bonds.
    • date: 2012-01-18T00:00:00 type: End of procedure in Parliament body: EP
    links
    other
    • body: EC dg: url: http://ec.europa.eu/dgs/secretariat_general/index_en.htm title: Secretariat-General commissioner: BARROSO José Manuel
    procedure/legal_basis/0
    Rules of Procedure EP 123-p2
    procedure/legal_basis/0
    Rules of Procedure of the European Parliament EP 123-p2
    procedure/subject
    Old
    • 5.10.01 Convergence of economic policies, public deficit, interest rates
    • 5.20.01 Coordination of monetary policies, European Monetary Institute (EMI), Economic and Monetary Union (EMU)
    • 8.40.14 European Council
    New
    5.10.01
    Convergence of economic policies, public deficit, interest rates
    5.20.01
    Coordination of monetary policies, European Monetary Institute (EMI), Economic and Monetary Union (EMU)
    8.40.14
    European Council
    procedure/subtype
    Old
    Resolution on statements
    New
    • Resolution on statement
    • See also 2011/2545(RSP)
    procedure/summary
    • See also
    2015-11-04Show (2) Changes | Timetravel
    other/0/dg/title
    Old
    Secretariat General
    New
    Secretariat-General
    procedure/subject/2
    Old
    8.40.14 European Council meetings
    New
    8.40.14 European Council
    2015-01-08Show (3) Changes | Timetravel
    activities/0
    date
    2011-12-09T00:00:00
    text
    See the conclusions of the European Council and the statement by the euro area Heads of State or Government.
    body
    all
    type
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    procedure/subject/2
    Old
    8.40.14 European councils
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    • See also
    2014-11-09Show (5) Changes
    activities
    • date: 2011-12-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20111213&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
    • date: 2012-01-18T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=21090&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=20120118&type=CRE type: Debate in Parliament title: Debate in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-2 type: Decision by Parliament, 1st reading/single reading title: T7-0002/2012 body: EP type: Results of vote in Parliament
    committees
      links
      other
      • body: EC dg: url: http://ec.europa.eu/dgs/secretariat_general/index_en.htm title: Secretariat General commissioner: BARROSO José Manuel
      procedure
      reference
      2011/2546(RSP)
      title
      Resolution on the conclusions of the European Council meeting (8-9 December 2011) on a draft international agreement on a Fiscal Stability Union
      legal_basis
      Rules of Procedure of the European Parliament EP 123-p2
      stage_reached
      Procedure completed
      subtype
      Resolution on statements
      type
      RSP - Resolutions on topical subjects
      subject
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