The Committee on Economic and Monetary Affairs (ECON) is a committee of the European Parliament which is responsible for the regulation of financial services, the free movement of capital and payments, taxation and competition policies, oversight of the European Central Bank, and the international financial system.
Since the establishment of the Economic and Monetary Union (EMU), one of the most important function of this committee has been the oversight of the European Central Bank (ECB) through the "monetary dialogue". Although guaranteed independence under the Treaty, the ECB is accountable for its actions towards the European Parliament, and more precisely the ECON Committee.[1] Every three months, the President of the ECB, or occasionally another member of the ECB's executive board, appears before the Committee to report on monetary policy and answer question from MEPs. These proceedings, usually called the "monetary dialogue", are webstreamed and a transcript is made available on both the Parliament and ECB websites.[2]
The European Parliament's ECON Committee also plays an advisory role in the appointments of the President and board members of the ECB.[3]
Ninth legislature
Members of the bureau
| Position | Name | Political Group | Country |
|---|---|---|---|
| Chair | Irene Tinagli | S&D |  Italy
|
| 1st Vice-chair | Luděk Niedermayer | EPP |  Czech Republic
|
| Vice-chair | Stéphanie Yon-Courtin | Renew Europe |  France
|
| Vice-chair | Derk Jan Eppink | ECR |  Netherlands
|
| Vice-chair | José Gusmão | GUE/NGL |  Portugal
|
Eighth legislature
Members of the bureau
| Position | Name | Political Group | Country |
|---|---|---|---|
| Chair | Roberto Gualtieri | S&D | Italy
|
| Vice-chair | Brian Hayes | EPP |  Ireland
|
| Vice-chair | Peter Simon | S&D |  Germany
|
| Vice-chair | Kay Swinburne | ECR |  United Kingdom
|
| Vice-chair | Luděk Niedermayer | EPP | Czech Republic
|
Seventh legislature
Members of the bureau
| Name | Position |
|---|---|
| Sharon Bowles | Chair |
| José Manuel García-Margallo y Marfil | Vice-chair |
| Arlene McCarthy | Vice-chair |
| Theodor Dumitru Stolojan | Vice-chair |
| Edward Scicluna | Vice-chair |
See also
References
- ^ Piotr Skolimowski (April 2019). "ECB Needs More Scrutiny From European Parliament, Report Says". www.bloomberg.com. Retrieved 2019-10-06.
- ^ "Monetary Dialogue 2009-2014: Looking Backward, Looking Forward, Monetary Dialogue, March 2014 - Think Tank". www.europarl.europa.eu. Retrieved 2019-10-06.
- ^ "European Central Bank appointments: Role of the European Parliament - Think Tank". www.europarl.europa.eu. Retrieved 2019-10-06.
Further reading
- Bouwen, Pieter (December 2003). "A theoretical and empirical study of corporate lobbying in the European Parliament". European Integration Online Papers. 7. Pdf.
- Bouwen, Pieter (September 2004). "The logic of access to the European Parliament: business lobbying in the Committee on Economic and Monetary Affairs". Journal of Common Market Studies. 42 (3): 473–495. doi:10.1111/j.0021-9886.2004.00515.x. S2CID 154841544.
- European Parliament (2014). "Monetary Dialogue 2009-2014: Looking Backward, Looking Forward."
External links
- Official Homepage
- Appointment of ECON Committee Chair and Vice-chairs in 2009
- Members of the ECON Committee from the European Parliament ECON Committee website
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This page was last edited on 28 November 2023, at 20:20