ECOFIN

George Osborne Excerpts

Tuesday 12th February 2013 Written Statements

[The Chancellor of the Exchequer (Mr George Osborne)]

A meeting of the Economic and Financial Affairs Council will be held in Brussels on 12 February 2013. We expect the following items to be on the agenda and discussed:

Current legislative proposals

The presidency intends to give an update on: single supervisory mechanism (SSM); the fourth capital requirements directive (CRD IV); bank recovery and resolution; market abuse directive (MAD)/market abuse regulation (MAR); and revised rules for markets in financial instruments directive (MiFID).

Discharge to be given to the Commission in respect of the implementation of the budget for 2011

As part of the annual discharge process, Ministers will conclude recommendations to the European Parliament on whether to discharge the Commission from its responsibility for implementing the 2011 EU budget, based on an annual report from the European Court of Auditors (ECA).

Council guidelines for the budget for 2014

As part of the annual EU budget process, Council will agree a set of Council conclusions on guidelines for the 2014 budget of the EU, which will serve as its overall reference for the subsequent budgetary procedure.

Preparation of G20 meeting of Finance Ministers and governors (Moscow, Russia, 15 to 16 February 2013)

Council will be asked to endorse the EU terms of reference for the G20 Finance Ministers and governors meeting. This will be the first G20 Finance Ministers and governors meeting of the Russian presidency.

Annual growth survey 2013

Ministers will agree a set of Council conclusions on the Commission’s annual growth survey 2013.

Alert mechanism report 2013

Ministers will agree a set of Council conclusions on the Commission’s alert mechanism report 2013.

Fiscal sustainability report 2012

Ministers will agree a set of Council conclusions on the fiscal sustainability report 2012.