Financial, Economic and Social Crisis Committee visits Portugal and Spain - Main contents

The European Parliament's Special Committee on the Financial, Economic and Social Crisis i will visit Lisbon and Madrid on 11 - 13 January to assess the impact of the debt crisis and debate possible ways out with national politicians, economic stakeholders, industry and social partners.

A delegation of the EP committee will meet political representatives and citizens to gather facts for the Committee's report on the Financial, Economic and Social Crisis (CRIS), to be completed in July 2011.

Separately, in the coming months the European Parliament and EU Member States are to thrash out a package of legislative rules and sanctions to strengthen economic governance in the EU, in a bid to prevent future debt crises.  These rules will flesh out the agreement reached by heads of state in December 2010 on the creation of a permanent stability mechanism.

The delegation, led by committee chair Wolf Klinz (ALDE, Germany), includes Othmar Karas (EPP i, Germany), Elisa Ferreira (S&D i, Portugal), Robert Zile (ECR i, Latvia), and Olle Schmidt (ALDE, Sweden). In Portugal, it will be joined by Regina Bastos (EPP, Portugal), Danuta Maria Hübner (EPP, Poland), Arturs Krišjanis Karinš (EPP, Latvia) and Miguel Portas (GUE i, Portugal). In Madrid, it will be joined by Frank Engel (EPP, Luxembourg), José Manuel García-Margallo (EPP, Spain), Enrique Guerrero (S&D, Spain) and Antolín Sánchez Presedo (S&D, Spain).

Background on the CRIS Committee

The CRIS Committee was set up in 2009 to analyse and evaluate the extent of the financial crisis, the economic and social impact on the EU and its Member States and to propose appropriate measures for the long-term rebuilding of healthy and stable financial markets in order to support sustainable growth and employment. The committee will also evaluate the implementation to date of the legislation in all areas concerned with the coordination of actions undertaken by Member States.

The Committee will continue its fact-finding missions with visits to Ireland, Greece and the UK as well as to the European Central Bank in Frankfurt in order to ensure a close collaboration with national stakeholders at all levels. The CRIS Committee's final report will be put to a committee vote in May 2011 and a plenary vote in July.

The Committee will continue its fact-finding missions with visits to Ireland, Greece and the UK as well as to the European Central Bank in Frankfurt in order to ensure a close collaboration with national stakeholders at all levels.

The CRIS Committee's final report will be put to a committee vote in May 2011 and a plenary vote in July.