Brussels, 21/03/2001 (Agence Europe) - EUROPE has reason to believe that Coreper agreed on Wednesday on a draft Council resolution on the Lamfalussy report on the regulation of financial markets. According to convergent sources, the European Commission managed to have the "aerosol clause" withdrawn from the text, at Germany's request. The clause would have allowed the Council to block its proposals of measures of implementation by a simple majority. It is not to be ruled out that this agreement be formalised during an Ecofin Council, on Thursday evening on the fringe of the Stockholm Summit. The last Ecofin Council was not able to adopt the draft resolution because of institutional arm-wrestling over comitology procedure (see EUROPE of 12 March, p.7). "The aerosol clause, extended to other sensitive matters, would have allowed certain large States to counterbalance a loss of influence after enlargement, but to the detriment of the Commission", one Commission official told EUROPE. The final text will be limited to referring to the 1999 decision on comitology, in which the Commission undertakes to take the most account possible of the predominant points of view at the Council. Only qualified majority of Member States could oppose a proposal by the European Executive. According to diplomatic source, spokesman for the internal market, the Commission is fully satisfied with the agreement. The aerosol clause which is a simple statement joined to the minutes of the decision of 1999, would have legal force if found in the Council resolution. If the agreement satisfies the Commission, the European Parliament only has the right of non-binding recall to evoke the Commission's proposals but without being able to modify them as a binding call-back clause would have allowed.