Strasbourg, 21/11/2003 (Agence Europe) - On Thursday in Strasbourg, the European Parliament warned that it will not allow its budgetary powers to be taken over. It forcefully condemned the suggestions by the Ecofin Council at the IGC for modifications of the financial provisions contained in the Draft Constitution for Europe (see EUROPE of 20 November, pages 4 and 5, on the subject of the plenary debate on the IGC).
With the adoption, by 360 votes to 70 and 14 abstentions, of a resolution by the parliamentary committee on budgets, the Parliament also stresses that such changes, which were discussed at the informal Ecofin Council in Stresa and at the Intergovernmental Conference (IGC) would be "an unacceptable step backward" compared to what appears in the Draft Treaty and also the current situation. Such changes could "radically overturn the global institutional balance by inverting the budgetary powers in favour of the Council", MEPs fear.
EP overcomes differences on assessment of financial provisions in the Draft Treaty
The resolution recalls the major concessions obtained at the Convention (mainly the introduction of a new multiannual financial framework in the Constitution) and calls on Member States to consider that any attempt to reduce the Parliament's budgetary powers would entail a "serious democratic deficit" in the way the Union works". The Parliament supports the financial provisions set out in the Draft Treaty but is aware of the fact that they do not safeguard the current balance of powers between the European Parliament and the Council, the two branches of budgetary authority. The Parliament rejected an amendment by the EPP-ED (188 votes for, 250 against and 9 abstentions) which considered, on the contrary, that the compromise in the Draft Treaty was "equitable" and felt that this text establishes a real institutional balance of powers between the European Parliament and Council.