3163rd ECONOMIC and FINANCIAL AFFAIRS Council meeting (provisional version) - Brussels, 2 May 2012 - Montesquieu Institute

COUNCIL OF THE EUROPEAN UNION

PROVISIONAL VERSION

PRESSE 184 PR CO 25

PRESS RELEASE

3163rd Council meeting Economic and Financial Affairs

Brussels, 2 May 2012

President Ms Margrethe VESTAGER

Minister for Economic Affairs and the Interior of Denmark

PROVISIONAL VERSION

2.V.2012

Main results of the Council

The Council examined proposals to amend the EU's rules on capital requirements for banks and

investment firms, the so-called "CRD 4" package, with a view to starting negotiations with the European Parliament aimed at adoption of the texts at first reading.

Noting the support of a qualified majority in favour of a provisional compromise text, the Council decided to review the dossier on 15 May, subsequent to a technical verification, with a view to confirming its agreement on the overall package.

PROVISIONAL VERSION

CONTTS¹

2.V.2012

PARTICIPANTS................................................................................................................................4

ITEMS DEBATED

FOLLOW-UP TO INTERNATIONAL FINANCE MEETINGS.......................................................6

BANK CAPITAL REQUIREMTS.................................................................................................7

OTHER ITEMS APPROVED

ECONOMIC AND FINANCIAL AFFAIRS

• - 

  Excise duties - Administrative cooperation.............................................................................................................8

ERGY

• - 

  Euratom / Korean Peninsula Energy Development Organisation - Renewal of agreement.....................................8

VIRONMT

• - 

  Biocidal products.....................................................................................................................................................8

FOOD LAW

• - 

  Update of list of authorised food additives..............................................................................................................9

APPOINTMTS

• - 

  Committee of the Regions.......................................................................................................................................9

¹ • 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

PROVISIONAL VERSION

2.V.2012

PARTICIPANTS

Belgium:

Mr Steven VANACKERE

Bulgaria:

Mr Dimiter TZANTCHEV

Czech Republic:

Mr Miroslav KALOUSEK

Denmark:

Ms Margrethe VESTAGER Germany:

Mr Wolfgang SCHAUBLE

Estonia:

Mr Jürgen LIGI

Ireland:

Mr Michael NOONAN Greece:

Mr Theodoras SOTIROPOULOS Spain:

Mr Luis DE GUINDOS JURADO France:

Mr Francois BAROIN Italy:

Mr Vittorio GRILLI Cyprus:

Mr Vassos SHIARLY Latvia:

Ms Ilze JUHANSONE Lithuania:

Mr Raimundas KAROBLIS

Luxembourg:

Mr Luc FRIED

Hungary:

Mr Péter GYÖRKÖS Malta:

Mr Tonio FECH

Netherlands:

MrPieterDEGOOIJER

Austria:

Ms Maria FEKTER Poland:

Mr Jacek ROSTOWSKI

Portugal:

Mr Vitor GASPAR

Romania:

Mr Mihnea MOTOC Slovenia:

Mr Rado GONORIO

Deputy Prime Minister and Minister for Finance and Sustainable Development, with responsibility for the Civil Service

Permanent Representative Minister for Finance

Minister for Economic Affairs and the Interior Federal Minister for Finance Minister for Finance Minister for Finance Permanent Representative

Minister for Economic Affairs and Competitiveness Minister for Economic Affairs, Finance and Industry Deputy Minister for Economic Affairs and Finance Minister for Finance Permanent Representative Permanent Representative Minister for Finance Permanent Representative

Minister of Finance, the Economy and Investment

Permanent Representative

Federal Minister for Finance

Minister for Finance

Ministro de Estado, Minister for Finance

Permanent Representative

Permanent Representative

PROVISIONAL VERSION

2.V.2012

Slovakia:

Mr Ivan KORCOK

Finland:

Mr Jan STORE

Sweden:

Mr Anders BORG

United Kingdom:

Mr Georae OSBORNE

Permanent Representative

Permanent Representative

Minister for Finance

Chancellor of the Exchequer

Commission:

Mr Olli REHN

Mr Michel BARNIER

Vice President Member

Other participants:

Mr VitorCONSTANCIO

Mr Werner HOYER

Mr Thomas WIESER

Mr Philippe GUDIN de VALLERIN

Mr Andrea RIA

Vice President of the European Central Bank President of the European Investment Bank President of the Economic and Financial Committee President of the Economic Policy Committee President of the European Banking Authority

The government of the acceding state was represented as follows:

Croatia:

Mr Vladimir DROBNJAK

Ambassador, Head of Mission of Croatia to the EU

PROVISIONAL VERSION 2.V.2012 ITEMS DEBATED

FOLLOW-UP TO INTERNATIONAL FINANCE MEETINGS

The Council took stock of the outcome of international finance meetings held in Washington DC on 19-22 April, namely:

• • 

  G-20 finance ministers' and central bank governors' meeting;
• • 

  Annual spring meetings of the IMF

Discussions in Washington covered the global economic situation, the G-20 framework for growth, additional IMF resources, financial regulation, energy and commodity markets, green growth and climate finance

The Council identified issues for further work with a view to the G-20 summit to be held in Los Cabos (Mexico) on 18 and 19 June and subsequent finance meetings

PROVISIONAL VERSION

2.V.2012

BANK CAPITAL REQUIREMTS

The Council carried out a detailed examination of proposals to amend the EU's rules on capital requirements for banks and investment firms, the so-called "CRD 4" package, with a view to starting a negotiation with the European Parliament aimed at adoption of the texts at first reading

The proposals set out to amend and replace the existing capital requirement directives¹ and divide them into two new legislative instruments: a regulation establishing prudential requirements that institutions need to respect and a directive governing access to deposit-taking activities

They are aimed at transposing into EU law an international agreement approved by the G-20 in November 2010 - the Basel 3 agreement - prepared by the Basel Committee on Banking Supervision

Concluding the discussions, the president of the Council noted the support of a qualified majority of delegations in favour of a provisional compromise text. With the agreement of the Council, the presidency decided to add the dossier to the agenda of its meeting on 15 May, so as to enable a technical verification to be completed, with a view to confirming the Council's agreement on the overall package

¹ Directives /EC and /EC

PROVISIONAL VERSION

2.V.2012

OTHER ITEMS APPROVED

ECONOMIC AND FINANCIAL AFFAIRS Excise duties - Administrative cooperation

The Council adopted a regulation aimed at modernising the framework for administrative cooperation between the member states in the field of excise duties

The regulation, which repeals and replaces regulation , lays down the conditions for cooperation in the application of legislation on excise duties, and rules and procedures for the exchange of information, including by electronic means

ERGY

Euratom / Korean Peninsula Energy Development Organisation - Renewal of agreement

The Council authorised the Commission to negotiate the renewal of the agreement between the European Atomic Energy Community (Euratom) and the Korean Peninsula Energy Development Organisation (KEDO) ().

VIRONMT

Biocidal products

The Council decided not to oppose adoption by the Commission of the following legislative acts pursuant to directive 98/8/EC¹ on the placing of biocidal products on the market:

decision setting a new deadline for the submission of dossiers for certain substances to be examined under the 14-year work programme referred to in article 16(2) of directive 98/8/EC ()

l

OJL 123, 24.4.1998

PROVISIONAL VERSION

2.V.2012

directive amending directive 98/8/EC to include DDACarbonate as an active substance in annex I thereto ()

The two draft acts are subject to the regulatory procedure with scrutiny. Now that the Council has given its consent, the Commission may adopt them, unless the European Parliament objects

FOOD LAW

Update of list of authorised food additives

The Council decided not to oppose adoption by the Commission of three regulations amending annex II to regulation in order to allow the use of the following three food additives:

• • 

  Lysozyme (E 1105) for the preservation of beers that do not receive either pasteurisation or sterile filtration ():
• • 

  Polydextrose (E 1200) in energy-reduced and low-alcohol beers ();
• • 

  Glycerol esters of wood rosins (E 445) as an emulsifier for printing on hard coated confectionery products ().

The draft regulations are subject to the regulatory procedure with scrutiny. Now that the Council has given its consent, the Commission may adopt them, unless the European Parliament objects

APPOINTMTS

Committee of the Regions

The Council appointed Mr Juan Ignacio ZOIDO ALVAREZ, Mr Abel CABALLERO ALVAREZ and Ms Nuria MARIN MARTINEZ (Spain), as members of the Committee of the Regions for the remainder of the current term of office, which runs until 25 January 2015 ().

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