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Economic and Financial Affairs Council

European Council agreement on the 2014 European Union Budget

There was agreement at today´s ECOFIN Council on the guidelines the Council will provide to the Commission in respect of the 2014 Budget. There was also agreement on Council conclusions in respect of the annual growth survey and the alert mechanism report which is part of the European Semester process.

 A decision was taken by the Council to forward its guidelines to the European Commission in respect of the 2014 EU Budget. The guidelines set our guiding principles and orientations for the Commission to consider when it drafts the annual Budget for 2014. The Council also agreed to recommend to the European Parliament to grant discharge to the Commission for the manner in which the 2011 annual budget has been spent. This discussion was based on the European Court of Auditors annual report for 2011.

The Council also agreed guidelines in respect of the Annual Growth Survey and the Alert Mechanism Report and in both cases these guidelines will now be forwarded for consideration at the Spring European Council (14-15 March). 

The meeting also included:

  • an update from the Presidency on financial services dossiers (CRD IV and banking supervision legislative proposals; market abuse directive/regulation and markets in financial instruments directive) and economic surveillance measures (“two pack”);
  • an endorsement of the terms of reference for the G20 Finance Ministers and Governors meeting in Moscow on 15-16 February;
  • an exchange of views on the adoption of conclusions in respect of the Fiscal Sustainability Report 2012

Council meeting press release.

Of interest