Rådsmøde nr. 3370 (økonomi og finans) den 17. februar 2015 - Bilag 5: Resultat af Rådets samling økofin 17/02-15

Europaudvalget 2015-16
Rådsmøde 3370 - Økofin Bilag 5
Offentligt

Council of the

European Union

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(OR. en)

PRESSE 15

PR CO 7

OUTCOME OF THE COUNCIL MEETING

3370th Council meeting

Economic and Financial Affairs

Brussels, 17 February 2015

President

Mr Jānis Reirs

Minister for Finance of Latvia

PRESS

Rue de la Loi 175 B – 1048 BRUSSELS Tel.: +32 (0)2 281 6319 Fax: +32 (0)2 281 8026

[email protected] http://www.consilium.europa.eu/press

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CONTENTS

ITEMS DEBATED

EUROPEAN FUND FOR STRATEGIC INVESTMENTS ................................................................ 4

ECONOMIC GOVERNANCE ............................................................................................................ 6

–

Annual growth survey ............................................................................................................................................. 6

Macroeconomic imbalances .................................................................................................................................... 6

FOLLOW-UP TO G20 MINISTERIAL MEETING IN ISTANBUL ................................................. 7

EU BUDGET - DISCHARGE FOR 2013 ........................................................................................... 8

EU BUDGET - GUIDELINES FOR 2016 ........................................................................................ 10

EU BUDGET - OWN RESOURCES ................................................................................................ 11

OTHER BUSINESS .......................................................................................................................... 12

MEETINGS IN THE MARGINS OF THE COUNCIL .................................................................... 12

OTHER ITEMS APPROVED

BUDGETS

–

Revision of the multiannual financial framework 2014-2020* ............................................................................. 13

ECONOMIC AND FINANCIAL AFFAIRS

–

Own funds requirements........................................................................................................................................ 13

FOREIGN AFFAIRS

–

EU special representative for human rights ........................................................................................................... 14

Organisation for the Prohibition of Chemical Weapons ........................................................................................ 14

DEVELOPMENT POLICY

–

European Development Fund ................................................................................................................................ 14



Where declarations, conclusions or resolutions have been formally adopted by the Council, this is indicated

in the heading for the item concerned and the text is placed between quotation marks.

 

Documents for which references are given in the text are available on the Council's Internet site

(http://www.consilium.europa.eu).

 

Acts adopted with statements for the Council minutes which may be released to the public are indicated by

an asterisk; these statements are available on the Council's Internet site or may be obtained from the Press

Office.

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EUROPEAN ECONOMIC AREA

–

Rules of origin - Croatia ........................................................................................................................................ 15

Rules of origin - Euro-Mediterranean rules on the origin of goods ....................................................................... 15

FOOD LAW

–

Food additives ....................................................................................................................................................... 15

TRANSPORT

–

Civil aviation aircrew ............................................................................................................................................ 16

INTERNAL MARKET

–

Motor vehicles - Type-approval for emergency breaking systems ........................................................................ 16

ENVIRONMENT

RESEARCH

–

EU-Ukraine - Science and technology cooperation agreement ............................................................................. 17

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ITEMS DEBATED

EUROPEAN FUND FOR STRATEGIC INVESTMENTS

The Council discussed a proposal for a regulation on a European fund for strategic investments

(EFSI).

Proposal on the European fund for strategic investments

The presidency briefed the Council on work being carried out on the proposal within a technical

expert working group. It confirmed its intention for the Council to reach agreement in March 2015.

To achieve this, work will continue in the coming days in light of comments made by ministers.

The Council broadly supported the approach outlined by the presidency on certain key issues:

–

Review clause. The presidency proposes that a review take place after the first few years of

operation, on the basis of an independent assessment, to determine whether the EFSI

should be made a permanent instrument;

Redeployment of EU funds to finance the EFSI. The presidency proposes that no change

be made to the Commission's proposal on this point;

Governance structure. Delegations supported a lean governance structure ensuring an

independent decision-making process.

–

The EFSI would be established within the European Investment Bank by an agreement between the

Commission and the EIB. Member states and other third parties would be able to join the EFSI

agreement by means of capital contributions. The Commission has indicated that it would take a

favourable attitude towards such contributions when assessing member states' public finances under

EU fiscal rules.

The fund would be built on €16 billion in guarantees from the EU budget and €5 billion in cash

from the EIB. To facilitate the payment of potential guarantee calls, a guarantee fund would be

established that would gradually reach €8 billion (i.e. 50% of total EU guarantee obligations) by

2020. EU funding would mostly come from diverting grants from the Horizon 2020 programme

(research and innovation) and the Connecting Europe facility, as well as unused margins in the

budget.

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The EFSI would enhance risk-bearing capacity. By taking on part of the risk of new projects

through a first-loss liability, the fund would attract private investors who would join under more

favourable conditions. Thereby the EFSI is estimated to reach an overall multiplier effect of 1:15 in

real investment.

The fund would be active in a broad range of areas, including transport, energy and broadband

infrastructure, education, health, research and risk finance for SMEs.

Under the Commission's proposal, the EFSI would have a two-tier governance structure:

–

a steering board would set the overall strategy, investment policy and risk profile of the

fund. Its members would be appointed by the contributors of risk-bearing capacity with

voting power proportional to the size of contributions. This is still under discussion in the

Council;

an investment committee would select projects to receive EFSI support. Accountable to the

steering board, it would consist of a managing director and six independent market experts.

–

Any project supported by the EFSI would require approval by the EIB.

The regulation requires a qualified majority for adoption by the Council, after consulting the

European Parliament. (Legal basis: articles 172, 173, 175(3) and 182(1) of the Treaty on the

Functioning of the EU.)

The European Council in December 2014 called for an agreement to be reached between the

European Parliament and the Council in June. This would allow for new investments as early as

mid-2015.

The EFSI is one of the core elements of the Commission's "investment plan for Europe", published

in November 2014. It is expected to mobilise at least €315 billion in private and public investment

across the EU.

Communication from the Commission on the investment plan

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ECONOMIC GOVERNANCE

–

Annual growth survey

Macroeconomic imbalances

The Council considered growth prospects and macroeconomic imbalances under the "European

Semester", the EU's annual policy monitoring process.

It adopted conclusions regarding two documents from the Commission:

–

The annual growth survey, highlighting the Commission's main conclusions for 2015;

An "alert mechanism report", marking the starting point of the EU's annual

macroeconomic imbalances procedure.

Council conclusions on the 2015 annual growth survey and alert mechanism report

The 2015 European Semester will conclude in July, with the adoption of country-specific

recommendations on the member states' economic, employment and fiscal policies.

The annual growth survey recommends for 2015:

–

a coordinated boost to investment, with the Commission's €315 billion action plan (see

page 4);

a renewed commitment to structural reforms, to enable countries to grow out of debt and

stimulate the creation of more and better jobs;

pursuing fiscal responsibility, to secure control over deficit and debt levels in the long

term.

–

The alert mechanism report identifies 16 member states for which further assessment is needed to

determine whether macroeconomic imbalances exist: Belgium, Bulgaria, Croatia, Finland, France,

Germany, Hungary, Ireland, Italy, the Netherlands, Portugal, Romania, Slovenia, Spain, Sweden

and the United Kingdom.

For these, the Commission is due to publish in-depth reviews at the end of February 2015.

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FOLLOW-UP TO G20 MINISTERIAL MEETING IN ISTANBUL

The presidency and the Commission reported on a meeting of G20 finance ministers and central

bank governors in Istanbul on 9 and 10 February 2015.

The Council asked the Economic and Financial Committee to prepare G20 and IMF meetings to be

held in Washington, D.C., on 16-19 April 2015.

Discussions at the Istanbul meeting covered six main topics: the global economy, the framework for

growth, investment and infrastructure, international financial architecture, financial regulation and

taxation issues.

Turkey chairs the G20 from December 2014 to November 2015. The 2015 G20 summit will take

place in Antalya on 15 and 16 November.

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EU BUDGET - DISCHARGE FOR 2013

The Council recommended the European Parliament to give a discharge to the Commission for

implementation of the 2013 EU budget. This recommendation was prepared on the basis of the

Court of Auditors' annual report.

The Council recalled the particular importance that better spending and sound financial

management of EU funds have for the public perception of actions financed from the EU budget. It

noted that the error rate for payments in 2013 remained relatively stable compared to the previous

year. However, it regretted that the EU budget continues to be affected by an error rate above the

materiality threshold of 2%. At the same time, the Council recalled that the error rate is not a

measure of fraud, inefficiency or waste of funds.

The Council recognised the efforts made by the Commission and member states to implement the

Court of Auditors' recommendations of previous years to improve the management and control of

EU funds.

It noted that policies for which management is shared by the Commission and the member states

remain more affected by error than policies directly managed by the Commission. The Council

regretted that for an important part of the transactions under shared management affected by error,

national authorities had enough information to detect and correct the errors concerned. It called on

the Commission to continue exercising its supervisory role and to provide guidance to member

states in order to ensure that spending is in line with the rules.

As far as the funds directly managed by the Commission are concerned, the Council regretted the

recurrent increase in the error rate for most policies. It urged the Commission to continue improving

its control system.

Some delegations emphasised the importance of member states taking full responsibility for

maintaining - and where necessary improving - effective and efficient control mechanisms to

manage EU funds at national level.

Council recommendation on the discharge of the 2013 budget

Court of Auditors Annual Report for the financial year 2013

Note on the draft Council recommendation

The Council's recommendation serves as the basis for the European Parliament's decision on a

discharge to the Commission. This is in line with article 319 of the Treaty on the Functioning of the

European Union.

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The Council also adopted recommendations on the discharge to be given to the directors of 32 EU

agencies, six EU executive agencies and seven joint undertakings for implementation of their 2013

budgets. In accordance with the EU's budgetary discharge procedure, the recommendations will

now be submitted to the European Parliament. The President of the Council is due to present them

to the European Parliament's Committee on Budgetary Control on 23 February.

Council 2013 discharge recommendation to the agencies

Council 2013 discharge recommendation to the executive agencies

Council 2013 discharge recommendation to the joint undertakings

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EU BUDGET - GUIDELINES FOR 2016

The Council adopted conclusions setting its priorities for the 2016 EU budget. They will guide the

presidency in negotiations with the European Parliament.

The 2016 budget will be the third in the EU's 2014-20 financial programming period. The

conclusions emphasise the need to maintain budgetary discipline at all levels, given that budgetary

constraints remain in many member states. They call for a balance to be struck between fiscal

consolidation and investments to boost growth. Such a balance could be achieved through the

prioritisation of objectives and the allocation of resources to measures that contribute the most to

those aims.

From the Council's point of view, commitments and payments should be kept under strict control,

taking into account real needs. At the same time, the payments level in the 2016 budget should

notably reflect the commitments made during the previous programming period 2007-2013 and the

expected needs for programmes relating to the period 2014-2020.

The Council took note of the decreasing amount of outstanding commitments, commonly known

under their French acronym "RAL" (reste à liquider), and asked the Commission to carefully

monitor these amounts. According to the Commission the level of "RAL" amounted to €189 billion

at the end of 2014, compared to around €222 billion at the end of 2013.

Council conclusions on priorities for the 2016 budget

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EU BUDGET - OWN RESOURCES

The Council took note of the first assessment report of a high-level group on own resources. The

report was presented by the group's chairman, Mario Monti.

The high-level group on own resources was set up as part of a political agreement on the

multiannual financial framework 2014-2020. It is tasked with reviewing the EU's current own

resources system by 2016 with a view to making it simpler, more transparent, more equitable and

more democratically accountable from 2021 onwards. The group meets at least once every

6 months.

National parliaments will be invited to an interinstitutional conference in 2016 to assess the

outcome of the group's work. On the basis of the results of this work, the Commission will assess

whether new own resources initiatives are appropriate for the period after 2020.

First assessment report of the high-level group on own resources

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OTHER BUSINESS

The Council, under "other business", took note of ongoing work on financial services dossiers.

MEETINGS IN THE MARGINS OF THE COUNCIL

Macroeconomic dialogue with the social partners

A dialogue on macroeconomic issues was held on 16 February between:

on the one hand the social partners, namely employers and trade unions at EU level and

representatives of public enterprises and SMEs;

on the other hand the Council presidency troika, the Commission, the European Central

Bank, the president of the Eurogroup and the chairpersons of the Economic and Financial

Committee and the Economic Policy Committee.

The dialogue focused on the priorities of the Latvian presidency, the economic situation and

outlook, and the various policy responses.

Eurogroup

Ministers of the euro area member states attended a meeting of the Eurogroup on 16 February. They

discussed the way forward for Greece, considering the forthcoming expiry of the country's current

economic adjustment programme. They gave political endorsement to Portugal's request to make an

early repayment of a portion of its loans from the IMF. They discussed the economic situation in the

euro area, in the light of the Commission's winter forecast, as well as Cyprus' economic adjustment

programme. They were also briefed on the results of the EU summit on 12 February 2015 in

relation to EU economic and monetary union.

EIB governors meeting

Ministers met in their capacity as governors of the European Investment Bank for the an EIB

governors' meeting. They discussed a Commission-EIB partnership for jobs, growth and

investment.

Ministerial breakfast meeting

Ministers held a breakfast to discuss the economic situation in the light of the Commission's winter

economic forecast. They also discussed Portugal's plans for early repayment of IMF loans and

financial assistance to Ukraine.

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OTHER ITEMS APPROVED

BUDGETS

Revision of the multiannual financial framework 2014-2020*

The Council confirmed an agreement in principle reached by the Permanent Representatives

Committee on 13 February 2015 on a revision of the EU's multiannual financial framework (MFF)

for 2014-2020.

Draft regulation of February 2015 amending the MFF

Statements on the February 2015 draft regulation amending the MFF

The aim of the revision is to allow the EU to transfer €21.1 billion of unused commitments for

certain funds from 2014 to subsequent years. This allows for the preservation of commitments

needed to support a number of EU programmes which could not be adopted in 2014. It also makes

it possible to adopt and implement the outstanding programmes.

The revised MFF regulation will be adopted by the Council once it has obtained the consent of the

European Parliament. The revision of the MFF will be accompanied by the adoption of draft

amending budget no. 2 translating the MFF revision into budgetary terms by increasing the

commitments in the 2015 budget by €16.5 billion.

Press release on the Council agreement on February 2015 draft regulation amending the MFF

ECONOMIC AND FINANCIAL AFFAIRS

Own funds requirements

The Council decided not to object to the adoption by the Commission of a regulation supplementing

the so-called capital requirements regulation ("CRR") 575/2013 with regard to regulatory technical

standards for own funds requirements for institutions.

The regulation is a delegated act pursuant to article 290 of the Treaty on the Functioning of the EU.

It can now enter into force, unless the European Parliament objects.

The delegated act specifies whether and when multiple distributions would create a disproportionate

drag on capital. It also clarifies the meaning of preferential distributions, namely preferential rights

to payments of distributions and order of payments of distribution. The delegated act amends an

earlier one (241/2014).

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FOREIGN AFFAIRS

EU special representative for human rights

The Council extended the mandate of the EU special representative for human rights, Stavros

Lambrinidis, until 28 February 2017.

A budget of €788 000 has been allocated for his activities from 1 March 2015 to 28 February 2016.

Organisation for the Prohibition of Chemical Weapons

The Council allocated €2.5 billion in support of the Organisation for the Prohibition of Chemical

Weapons (OPCW).

The funds will go towards the promotion of the full implementation of the convention on the

prohibition of the development, production, stockpiling and use of chemical weapons. They will

also support activities enhancing the preparedness of states to prevent and respond to attacks

involving toxic chemicals, international cooperation, and the ability of the OPCW to adapt to

technological developments.

DEVELOPMENT POLICY

European Development Fund

The Council adopted recommendations regarding the discharge to be given by the European

Parliament to the Commission in respect of the implementation of operations under the eighth, ninth

and tenth European Development Funds for the financial year 2013.

Recommendations concerning the eighth European Development Fund

Recommendations regarding the ninth European Development Fund

Recommendations on the tenth European Development Fund

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EUROPEAN ECONOMIC AREA

Rules of origin - Croatia

The Council approved the position to be adopted, on behalf of the EU, in the European Economic

Area joint committee concerning an amendment to protocol 4 of the EEA agreement.

The amendment of protocol 4 on rules of origin is needed to reflect that Croatia has become a party

to the EEA agreement.

Council February 2015 decision on amendment to protocol 4 of the EEA agreement

Rules of origin - Euro-Mediterranean rules on the origin of goods

The Council approved the position to be adopted, on behalf of the EU, in the European Economic

Area joint committee on the replacement of protocol 4 of the EEA agreement.

Council February 2015 decision on replacement of protocol 4 of the EEA agreement

The decision involves replacing protocol 4 with a new protocol that is aligned to a regional

convention on pan-Euro-Mediterranean preferential rules of origin. The regional convention lays

down provisions on the origin of goods traded under relevant agreements.

FOOD LAW

Food additives

The Council decided not to oppose the adoption of the following four Commission regulations:

–

a regulation amending the specifications for the food additive polyvinyl alcohol (E 1203);

a regulation authorising the use of L-leucine as a carrier (tableting aid) for table-top

sweeteners in tablets and to assign E 641 to that food additive;

a regulation extending the use of aluminium lakes of cochineal, carminic acid, carmines

(E 120) in dietary foods for special medical purposes which are not intended for infants

and young children;

a regulation increasing the maximum permitted level of benzoic acid – benzoates (E 210 -

213) in cooked shrimps in brine.

–

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Commission January 2015 draft regulation on specifications for E 1203

Commission January 2015 draft regulation on the use of E 641

Commission January 2015 draft regulation on the use of E 120

Commision January 2015 draft regulation on E 210-213

The draft regulations are subject to the so called regulatory procedure with scrutiny. The

Commission may now adopt them, unless the European Parliament objects.

TRANSPORT

Civil aviation aircrew

The Council decided not to oppose adoption by the Commission of a regulation amending

regulation 1178/2011 as regards technical requirements and administrative procedures related to

civil aviation aircrew.

The changes address, amongst other things, certain requirements that member states and general

aviation stakeholders have found to be disproportionate.

The draft regulation is subject to the regulatory procedure with scrutiny. The Commission may now

adopt it, unless the European Parliament objects.

Commission December 2014 draft amending regulation on civil aviation aircrew

Annexes 1 to 5 of Commission December 2014 draft amending regulation on civil aviation aircrew

INTERNAL MARKET

Motor vehicles - Type-approval for emergency breaking systems

The Council decided not to oppose the adoption by the Commission of an amendment to regulation

347/2012 with respect to type-approval requirements for certain vehicles with regard to advanced

emergency braking systems (AEBS).

Regulation 347/2012 lays down procedures, tests and requirements for the type-approval of motor

vehicles with regard to AEBS, and provides for the implementation of those requirements in two

stages. As part of the first stage, certain new vehicle types were to be subject, as of 1 November

2013, to approval level 1. As part of the second stage, those vehicles that had not been subject to

approval level 1, would be required to obtain approval level 2, entailing compliance with further

and more extensive requirements. Approval level 2 will be implemented as of 1 November 2016 for

new vehicle types.

The amendment is a draft delegated act. The Commission may now adopt it, unless the European

Parliament objects.

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ENVIRONMENT

Waste

The Council decided not to oppose the adoption by the Commission of an amendment to directive

2008/98/EC on waste.

Commission December 2014 draft directive on waste

The amendment is a draft implementing act. The Commission may now adopt it, unless the

European Parliament objects.

RESEARCH

EU-Ukraine - Science and technology cooperation agreement

The Council decided to renew for five years an agreement with Ukraine on cooperation in science

and technology.

The agreement entered into force in February 2003 and is renewable every five years.

The European Parliament gave its consent to the renewal of the agreement in December 2014.

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