Political agreement with the EP on 9 files in Capital Markets Union

The Romanian presidency of the Council of the European Union has concluded a political agreement with the European Parliament on 9 files in the Capital Markets Union field, according to a press release posted on the Website of the presidency of the Council of EU.

Thus, the secretary of state with the Ministry of Public Finance, Mihai-Eleodor Mandres, on Tuesday presented at the meeting of the Economic and Financial Committee of the European Union (EFC), the main topics to be debated at the informal meeting of the Council of the EU for Economic and Financial Affairs (ECOFIN), to take place in Bucharest, April 5-6 this year.

The informal reunion agenda includes topics related to the future Multiannual Financial Framework of the EU, priorities in the finance field, for the next institutional cycle, the path to be followed in achieving the Capital Markets Union, taxation in the labour field, the role of taxation in ensuring economic growth, the preparation of the IMF and G20 meetings in Washington on April 11-14, 2019.

Other topics included on the EFC agenda are the results of the most recent meeting of the Committee for Financial Services, the report of the president of the Committee for Economic Policies (EPC) regarding the output-gap related country specifications, the preparation of the annual EBRD meeting, in May 2019, in Sarajevo.

Secretary of state Mihai-Eleodor Mandres underscored the substantial progresses made by the Romanian presidency of the Council of EU in what concerns the Capital Markets Union.

"We succeeded in almost 3 months of mandate to conclude a political agreement with the European Parliament in 9 files in the Capital Markets Union field, with negotiations continuing in another 4 files. I want to thank all parties involved for how fast they've worked, with this constructive approach bringing tangible results," stated Mihai-Eleodor Mandres.

The discussions at the EFC were based on the European Commission's Communication of March 15, 2019, entitled "Capital Markets Union: progresses in the creation of the union of capital markets for a stronger Economic and Monetary Union."

According to the same source, the Economic and Financial Committee has the role to promote the coordination of the necessary policies of member states for the functioning of the internal market, contributing thus to the preparation of the works of the Council of EU or periodically presenting reports to the Council of EU and European Commission in respect to the economic and financial status of member states. EFC is made of high officials of the finance ministries or central national banks, as well as f the Central European Bank and the European Commission.