Decision 2000/604 - 2000/604/EC: Council Decision of 29 September 2000 on the composition and the statutes of the Economic Policy Committee - Main contents
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Contents
official title
2000/604/EC: Council Decision of 29 September 2000 on the composition and the statutes of the Economic Policy CommitteeLegal instrument | Decision |
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Number legal act | Decision 2000/604 |
CELEX number i | 32000D0604 |
Document | 29-09-2000 |
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Publication in Official Journal | 11-10-2000; Special edition in Slovenian: Chapter 10 Volume 001,Special edition in Slovak: Chapter 10 Volume 001,OJ L 257, 11.10.2000,Special edition in Latvian: Chapter 10 Volume 001,Special edition in Czech: Chapter 10 Volume 001,Special edition in Polish: Chapter 10 Volume 001,Special edition in Romanian: Chapter 10 Volume 001,Special edition in Maltese: Chapter 10 Volume 001,Special edition in Estonian: Chapter 10 Volume 001,Special edition in Hungarian: Chapter 10 Volume 001,Special edition in Bulgarian: Chapter 10 Volume 001,Special edition in Croatian: Chapter 10 Volume 002,Special edition in Lithuanian: Chapter 10 Volume 001 |
Effect | 12-10-2000; Takes effect Date pub. + 1 See Art 3 |
End of validity | 31-12-9999 |
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2000/604/EC: Council Decision of 29 September 2000 on the composition and the statutes of the Economic Policy Committee
Official Journal L 257 , 11/10/2000 P. 0028 - 0031
Council Decision
of 29 September 2000
on the composition and the statutes of the Economic Policy Committee
(2000/604/EC)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community and in particular Article 209 thereof,
Having regard to the opinion of the Commission,
Whereas:
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(1)The Economic Policy Committee (hereinafter "the Committee") was set up by Council Decision 74/122/EEC(1).
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(2)The Committee has exercised all the functions hitherto assigned to the Short-term Economic Policy Committee set up by Council Decision of 9 March 1960 on coordination of the conjunctural policies of the Member States(2), the Budgetary Policy Committee set up by Council Decision of 8 May 1964 on cooperation between the competent government departments of Member States in the field of budgetary policy(3), and the Medium-term Economic Policy Committee set up by Council Decision of 15 April 1964 setting up a Medium-term Economic Policy Committee(4).
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(3)The Committee is provided for in Article 272 of the Treaty.
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(4)The statutes of the Committee should reflect the new institutional environment created by entry into the third stage of economic and monetary union; it seems advisable to maintain the basic structure of the Committee while making the necessary adjustments to improve its functioning and to describe its tasks more precisely.
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(5)The task assigned to the Committee shall be without prejudice to the right of the Commission to formulate recommendations or deliver opinions on matters dealt with in the Treaty.
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(6)The introduction of the euro reinforces the need for a close coordination of economic policies and sustained convergence of the economic performances of the Member States; according to the resolution of the European Council of 13 December 1997 on economic policy coordination in stage 3 of economic and monetary union(5) enhanced economic policy coordination should include a closer monitoring of macroeconomic developments in Member States and of Member States structural policies in labour, product and services markets, as well as of cost and price trends, particularly in so far as they affect the chances of achieving sustained non-inflationary growth and job creation.
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(7)The broad economic policy guidelines and the multilateral surveillance procedure as provided for in Article 99 of the Treaty are at the centre of economic policy coordination; without prejudice to the tasks of the Economic and Financial Committee, the Committee should provide support for the formulation of the guidelines and contribute to the multilateral surveillance procedure in the areas mentioned in this Decision.
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(8)The European Council at its meeting in Cardiff on 16 June 1998 welcomed the decision of the Ecofin Council and the ministers meeting in that Council on 1 May 1998(6) to establish a light procedure, fully respecting the subsidiarity principle, for monitoring progress on economic reform.
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(9)The resolution of the European Council of 3 and 4 June 1999 launched a process of macroeconomic dialogue at Community level. This macroeconomic dialogue is aimed at improving the interaction between wage developments and macroeconomic policies. The European Council has concluded that the macroeconomic dialogue at technical level should take place in a working party set up in the framework of the Committee in collaboration with the Employment and Labour Market Committee, with the participation of representatives of both committees (including the European Central Bank), of the Commission and of the Macroeconomic Group of the Social Dialogue. The Committee should in...
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