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AN AMENDMENT WORTH 325 BN EURO.

It may be early days yet to get excited about MEPs supporting the compromise on the 2014-2020 Structural Funds. The European Parliament's Committee on Regional Policy (REGI), which is responsible for the fund, green-lighted the package on 7 November. But the adoption process is not over and could still be brought to a halt by the 20 November plenary. On 6 November, the Socialist group approved an amendment that was tabled in plenary with the aim to reinstate the 25% ratio earmarked for the European Social Fund. The amendment is "worth" 325 billion euro. Other MEPs also announced that they would table an amendment against macro-conditionality (see separate article). The problem being that the Council views these two provisions as a "red line". The compromise, which was accepted on 29 October by the Committee of Permanent Representatives, lays down that the share of the cohesion policy budget allocated to the Social Funds should be capped at 23.1% and should be based on the principle of macro-conditionality. The adoption of these amendments in plenary means that the dossier would be sent back for second reading. This would also undermine the compromise on the multiannual financial framework - which, as a result, would undermine the mobilisation of funds that are already delayed.

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Publication:European Report
Article Type:Brief article
Geographic Code:4E
Date:Nov 8, 2013
Words:210
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