This week is crucial for Hungary-proposed legislative changes in imposition of fines, food labeling and regulations on derivatives. With one week left of its presidency, Hungary is rushing to wrap-up its unfinished business.
Today the MEPs are going to take a vote on the original version of the legislative economic proposals made by Hungary as part of its EU presidency. The proposals are concerned with imposition of fines on member states that break the rules.On Monday Olli Rehn, the European commissioner for economic and monetary affairs, stated that there was a “99.9% agreement”on Hungary-proposed legislative economic proposals.
The Parliament is endorsing today the text of a directive on consumer rights, which was concluded after a compromise between Hungarian officials and MEPs and approved by the internal market committee.
Following the negotiations between the Commission, the Parliament and the member states and despite many clashes an agreement was reached on the future regulation on food labeling as was yesterday confirmed by member states ambassadors.
Finally, in an attempt to conclude an agreement on a derivatives regulation, the Hungarian government met with finance ministers on Monday. However, the dialogue revealed strong divisions among member states on the scope of the European Securities and Markets Authority, the new EU-wide watchdog.