Preparation of ECOFIN, Brussels, 13 December 2001 – tax and financial services

12 December 2001

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The EU's Council of Economic and Finance Ministers are due to meet in Brussels at 14h30 on Thursday 13th December. Frits Bolkestein, Commissioner for Taxation and the Internal Market will represent the European Commission at the meeting for the taxation and financial services issues.
With regarde to the Financial Services Action Plan Commissioner Bolkestein will note that there has been good progress towards these goals during the Belgian Presidency, but express his concern about the pace of delivery on a number of measures, namely the Takeover Bids Directive, the absence of decisive progress in the Council on the proposed Pension Funds Directive, the slow progress on the proposed Directive on Prospectuses.
He will underline that responsibility for delivering in time is shared by the Parliament, the Council and the Commission and that the workload under the Spanish and Danish Presidencies in 2002 will be very challenging, with ten legislative acts to adopt. The Commission will therefore seek a mid-term review of financial integration ahead of the Barcelona Council.
See Commission press release

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