MEPs voted by a very narrow majority (318 votes in favour, 303 against, 22 abstentions) to strengthen the European Monetary Union, "including the establishment of a budgetary capacity of the euro area that can provide a counter-cyclical stabilisation function", adopting an S&D group amendment to the 'Mavrides' report on the activities of the European Central Bank on Wednesday 12 February in Strasbourg.
The EPP and Renew Europe groups are very divided on this issue, according to the result of the votes.
This position could set the tone for future discussions in the European Parliament on strengthening the European framework for economic governance. On Monday 17 February, the Eurogroup will discuss the creation, in early 2021, of a budget for the euro area excluding a stabilisation function (see EUROPE 12422/13).
The Parliament also took up the draft 'Mavrides' report, with virtually no changes, which calls for the involvement of the European Parliament in the ongoing evaluation of the ECB's monetary policy strategy (see EUROPE 12422/14).
Another S&D group amendment softens the call for more transparency measures made by the relevant parliamentary committee. The Parliament thus "appreciates" the measures taken by the ECB in this area, in particular the "adoption of the single code of conduct" for all its high-level officials. This includes the obligation to publish the declarations of interest of the members of the Governing Council and establishes guidelines and transparency rules for meetings with lobbies.
However, the ECB's website does not publish any declarations of the financial interests of the members of the Governing Council. (Original version in French by Mathieu Bion)