Political challenges ahead as the locus of activity switches from Commission to Council and ParliamentThes events will be played out against a less propitious global economic outlook. So this will strengthen the cost-pressures for consolidation of Europe’s fragmented markets. By the summer, in terms of decision making the locus of work in relation to the Financial Services Action Plan (FSAP) will gravitate from the Commission to the Council and the European Parliament although the Commission will continue to play an active role throughout this new phase. Since the endorsement of the FSAP by the Cologne European Council in June 1999, 18 measures are now on the table for adoption in the Council and the European Parliament.
Fourth Report
© European Commission
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