§ Mr. HoodTo ask the Chancellor of the Exchequer what was the outcome of the ECOFIN held in Brussels on 8 February; and if he will make a statement. [70533]
§ Ms HewittThe Chancellor attended the Economic and Finance Council—ECOFIN—of the European Union in Brussels on 8 February 1999.
There was a discussion of both expenditure and resources under Agenda 2000. The goal of budgetary stabilisation by 2006 was widely supported. The Presidency issued Presidency conclusions on Agenda 2000.
The Commission and the Chairman of the Economic and Finance Committee presented draft Opinions on the Stability programmes of Italy and Portugal, and the Convergence programmes of Sweden and the UK. The Council adopted the Opinion on Italy with some minor amendments. The Council also adopted the Opinions on Portugal, Sweden and the UK.
417WThere was an orientation debate on the Broad Economic Policy Guidelines to inform the full debate scheduled provisionally for the 10 May ECOFIN.
Ministers also discussed four draft directives: the European Company Statute; the Takeovers Directive; the Winding-up of credit institutions; and the Winding-up of insurance companies directive.