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Europe Daily Bulletin No. 8225

5 June 2002
GENERAL NEWS / (eu) eu/ecofin
Council reaches agreement in principle on pension funds but harbours reserves about Belgium

Luxembourg, 04/06/2002 (Agence Europe) - On Tuesday, the ECOFIN Council reached an agreement in principle on the "Pension Funds" Directive but still harbours reserves about Belgium. The Spanish Presidency cancelled the adoption of the directive, with the hope of gaining a unanimous vote before the Seville Summit. Belgium believes that the safeguard rules are still insufficient.

The directive harmonises financial security rules in the management of "professional pension institutions", with...

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