Brussels, 15/12/2011 (Agence Europe) - The European Commission work programme is not expected in any way to leave out cohesion policy and should help to restore confidence in democracy, particularly by introducing greater regulation to the markets through the setting up of a European rating agency, as well as through the introduction of a tax on financial transactions. This is the core of the message addressed to the European commissioner for inter-institutional relations and administration, Maros Sefcovic, by representatives and organisations belonging to the Committee of the Regions (CoR). The message was addressed to him when the commissioner was presenting the Commission work programme during the CoR plenary session on 15 December. In the follow-up, the CoR adopted a draft resolution on its priorities for 2012 on the basis of the European Commission programme.
The legitimacy of democracy. During the exchange with the commissioner, Catiuscia Marini (Italy, socialist) criticised the fact that the Union was too subject to fluctuations on the financial markets and said that it was necessary to restore democratic legitimacy. The same tone was adopted in an intervention made by the European Alliance when Jerzy Zajaka³a (Poland) spoke of the need for a democratic Renaissance that would re-establish dialogue and put a stop to exclusively focusing on economic questions.
A European rating agency? Marini explained that this had to begin with regulation of the rating agencies, “setting up a European agency would be a good thing”, she emphasised. This point of view was shared by her counterpart Flo Clucas (ALDE, United Kingdom), who said that they needed genuine transactions and fewer mathematical procedures on the markets. The commissioner gave a rather mixed response in reply because, according to him, setting up a European agency would be very difficult and take a lot of time. He did announce, however, that the Commission was working on the rules and impact studies but that this would take more the form of an index of all the different agencies, or of a fraction of the main agencies, in an effort to allow smaller agencies more room to operate.
CoR supports FTT. Clucas explained that this would also require a tax on financial transactions because it was a necessary to prevent speculation destroying jobs, which was currently occurring. According to the British MEP, the FTT should be raised on the basis of residency and not on where the transaction takes place, which would be a way of appeasing the City somewhat. Commissioner Sefcovic admitted that the Commission was scrutinising the subject very closely but was absolutely determined to avoid the problems the Swedish system had experienced. In time, it would be a question of having a regulation that would allow the ten or so similar systems that currently exist to be harmonised.
Working on cohesion. The spokespersons for the parties belonging to the CoR also called on the Commission to pay more attention to cohesion policy because, “this is most important instrument for promoting growth at the level of the local authorities”, emphasised Marini. Zajaka³a regretted the fact that the revised cohesion policy did not focus more on rural affairs, saying: “volumes need to be increased if rural development is to be strengthened”. The commissioner said that it was mainly about simplifying the system and improving monitoring because, “if we cannot explain how the money is spent, it is difficult to negotiate cohesion policy”.
CoR priorities, draft resolution. Following this exchange with the commissioner, MEPs adopted a draft resolution setting ou the COR's political priorities on the basis of the European Commission work programme. The ideas previously mooted to the commissioner will be included in this, particularly with regard to introducing the primacy of political decision-making over the negative influences of the financial markets. The CoR says that it is in favour of deepening European integration in economic governance, together with the primacy of the Community method and multilevel governance. (MD/transl.fl)