Luxembourg, 20/06/2011 (Agence Europe) - The European finance ministers have assessed the progress made in the inter-institutional negotiations on the six texts reinforcing the Stability and Growth Pact (EUROPE 10399). They wanted to make a few changes to the compromise texts put to them by the Hungarian Presidency. It is now the job of the MEPs, who will receive a letter from the Council this Tuesday, to decide whether they will give their support to the position of the member states, thereby allowing the dossier to be concluded ahead of the European Council of Thursday 23 and Friday 24 June.
After six weeks of intense negotiations, “we are very, very close to a final agreement” on the legislative package to reinforce economic governance in Europe, said Hungarian Finance Minister György Matolcsy. He referred to seven changes made with a view to a compromise with the EP, which include a reinforcement of economic dialogue, the involvement of the EP in creating the table of macro-economic indicators and the independence of the national statistics authorities. However, the EP's calls to use the so-called reverse qualified majority decision-making procedure in the preventative plank of the Pact did not garner the support of the member states. Matolcsy said that he was confident that the MEPs would be able to back the Council's position. There is agreement on 99.9% of the texts, said Commissioner for Economic Affairs Olli Rehn. He called on the Council and the EP to take their responsibility to travel the “final centimetre” between them and a definitive political agreement. (M.B./transl.fl)