Brussels, 04/02/2014 (Agence Europe) - The European Parliament's economic and monetary affairs committee has suggested that an EP sub-committee on economic and monetary union (EMU) be set up after the European elections in May.
In a letter sent at the end of January to the EP Conference of Presidents, which this newsletter has seen, the committee coordinators say that reflecting the informal, non-legislative character of the eurozone, the new committee could study EMU in detail, leaving the economic and monetary affairs committee to deal with the legislative side of things. They say the sub-committee could work on questions relating to eurozone economic and monetary policy, banking union, financial stability though intervention by the European stability mechanism and respect of the budget pact in the EU.
The sub-committee could hold hearings of the people directly involved and meetings with national parliaments, drawing up own-initiative reports that would need to be formally endorsed by the economic and monetary affairs committee. (MB/transl.fl)