ECON public hearing on future structure of supervision On Tuesday 3 June 2008, the ECON Committee holds a public hearing on Future structure of supervision.

Four distinguished speakers: Mr. Tommaso Padoa-Schioppa (President of Notre Europe and former Minister of Economic Affairs and Finance of Italy), , Mr. Michel Prada (Chairman of the Autorité des Marchés Financiers), Mr. Johnny Akerholm (former Chairman of the IIMG and President and CEO of the Nordic Investment Bank) and Mr. Peter Praet (Executive Director, National Bank of Belgium and Chair of the Banking Supervision Committee of the ECB) accepted the invitation. Following issues will be at the heart of the debate: the existing EU financial sector supervisory architecture, limits and deficiencies of the Lamfalussy framework, various options for reforming the EU supervisory framework, implications for the integration of financial markets, macro-prudential issues, systemic risk and financial stability. The public hearing is organised in the context of the ECON report "Lamfalussy follow-up: Future Structure of Supervision" (rapporteurs: Ieke Van den Burg and Daniel Daianu).

Mr Padoa-Schioppa Mr Praet Mr Prada Mr Akerholm

ISSUE 49

DATE2 June 2008

VOLUME II

MAIN EVENTS HEARINGS .......................... 1

MAIN EVENTS …………….. 2

CALENDAR, LINKS,NEXTMEETING............... ................... 2E C O N Online

www.europarl.eu.int/committees/econ_home_en.htm

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ECON NEWSLETTERFor further information, please contact:

Solveiga Kumsare, Secretariat of the Committee on Economic and Monetary Affairs, on +32 (0) 2 28 31751

or by e-mail: solveiga.kumsare@europarl.europa.euECON website:

www.europarl.eu.int/committees/econ_home_en.htm

ECON is responsible for:- economic and monetary policy, EMU;- free movement of capital and payments;- international monetary and financial system;- competition and State or public aid;- tax provisions;- the regulation and supervision of financial

services, institutions and markets including financial reporting, auditing, accounting rules, corporate governance and other company law matters specifically concerning FS.

LOOKINGAHEAD:

What's on thenext meeting

Monday16 June

Strasbourg

Highlights:

EV with Commissioner Kroes

Other issues on this week's agenda:- Parliament's new role and responsibilities

implementing the Treaty of Lisbon - Pervenche Berès (PSE, FR), - consideration of amendments and vote;

- "Telecom package" - vote;- Energy produced from renewable sources - Mariela

Velichkova Baeva (ALDE, BG) - consideration of amendments and vote;

- Common system of value added tax - Dariusz Rosati (PSE, PL) - vote;

- MEETS programme - Christoph Konrad (EPP-ED, DE) -vote.

EV with the Chairman of CESR Mr. Eddy WymeerschThe Economic and Monetary Affairs Committee organises an exchange of views with the Chairman of the CESR, Mr Eddy Wymeersch, during its Committee meeting on 3rd June 2008, from 11.30 to 12.30. This event is part of the regular exchanges of views held by the ECON Committee with Lamfalussy Level 3 Committees. Mr Wymeersch will be invited to make a brief presentation on the current activities of the CESR, which will be followed by an exchange of views with the Members of the ECON Committee.

Report on the ECB annual report for 2007On the 3rd of June in the morning, members will consider the amendments tabled on the draft report on the ECB annual report for 2007. Later on the same day, ECON members will vote on the text. Mr Papademos, Vice-President of the ECB, presented the ECB annual report for 2007 in ECON the 21st of April, and the draft report was presented on the 19th of May.The report is part of the monetary dialogue with the ECB, and will be as usual voted in plenary in July.

Adoption of the euro by SlovakiaOn 4 April 2008, Slovakia submitted a request for a convergence assessment with a view to introduce the euro on 1 January 2009. The Commission and the ECB published their Convergence Reports for Slovakia on 7 May. The Commission concluded that that a high degree of sustainable convergence has been achieved by Slovakia and hence adopted a proposal for a Council decision to abrogate the derogation for this Member State, i.e. to allow the euro to be introduced. The ECON Draftsperson, Mr David Casa (EPP-ED), presented his draft report on the adoption of the euro by Slovakia in an ECON meeting on 19 May. In this ECON meeting, MEPs will discuss the amendments tabled and vote on the draft report.

EMU@10: The first 10 years of Economic and Monetary Union and future challengesThe European Commission published its Communication on EMU@10 on the 7 May 2008. The Commission is expecting a debate on the functioning on EMU before proposing any concrete policy measures. On the 3rd of June the Members of the Committee will have their first exchange on the subject. ECON is organising a public hearing on the 24 June 2008 between 16.30-18.30 relating to the experiences and the future challenges of the Economic and Monetary Union.