The European Parliament and EU member states have been locked in a stalemate over a number of contentious issues surrounding the draft regulation, and in particular a UK-backed proposal for an EU-wide 'passport' to allow foreign hedge funds to operate within the bloc – a plan opposed by France.

M. Verhofstadt a déclaré qu'il appartient à la Commission européenne de faire des propositions législatives dans ce domaine, plutôt que de céder le pouvoir à un groupe présidé par le président du Conseil européen Herman Van Rompuy.

Experts have been underwhelmed by an agreement at last week's meeting of finance ministers which will see national budgets vetted by Brussels before being finalised.

Under the so-called 'European Semester', finance ministers will meet in March to identify the main economic challenges facing member states. Governments will then set out their medium-term budgetary priorities and draw up national reform programmes.

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zsolt darvas

zsolt darvas

jeu, 2010-09-09 15:58

• services-financiers

How significant is the agreement on the 'European Semester' that finance ministers signed off on last week, allowing Brussels to vet the assumptions underlying national budgets?

It's significant and important and moves in a good direction, but I have some doubts about it. Most importantly, I think this could be an effective coordination device for preventing irresponsible fiscal situations in future and avoiding major failures.

Connu comme le fondateur du Pacte de stabilité et de croissance (PSC) qui limite la dette et les déficits publics dans la zone euro, M. Waigel a insisté sur la responsabilité d'Athènes dans la crise.

Il a toutefois ajouté que les institutions de l'UE s'était également montrées incapables de la prévenir, faisant preuve de faiblesses qui doivent être combattues.