The proposal of the Netherlands Presidency of the Council to the Intergovernmental Conference on Economic and Monetary Union

The European Parliament,

- having regard to its resolutions of 16 May 1990OJ No. C 149, 18.6.1990, p. 66, 10 October 1990OJ No. C 284, 12.11.1990, p. 62 and 14 June 1991Minutes of that date, Part II, Item 3 on Economic and Monetary Union,

- having regard to the final declaration of 30 November 1990 of the Conference of Parliaments of the European Community in Rome,

- having regard to the conclusions of the European Councils, in particular those of 27 and 28 October 1990 and 14 and 15 December 1990,

- having regard to the proposals presented by the Commission, the national governments and the Dutch Presidency on the draft treaty for the establishment of Economic and Monetary Union,

A. whereas the preamble to the EEC Treaty contains an undertaking by the Member States to strengthen the unity of their economies and ensure their harmonious development,

B. whereas the credibility of Economic and Monetary Union will depend on its contribution to the general improvement of the well-being of the peoples of the Community,

C. having regard to the lack of progress in economic convergence due to failure to use the instruments provided for multilateral surveillance,

Institutional aspects

1. Recalls its resolutions of 10 October 1990 and 14 June 1991 in which it states that, in order to ensure the progressive realization of Economic and Monetary Union, the requisite measures in the monetary sphere (emission of the ECU, the statutes of the European Central Bank, etc.) and in the economic field (economic and social cohesion, the multiannual economic policy guidelines, etc.) must respect the unity of the Community institutions and involve the participation of the European Parliament on an equal footing with the Council;

2. Recalls that, in accordance with the above resolutions, appointments to the Board of Directors of the Central European Bank must receive the assent of the European Parliament;

3. Stresses the principle of concurrent development of Monetary Union and Economic Union and the need for significant progress in the social field and on the environment;

4. Calls for the decision-making procedure to apply the following three principles for the transition to the third phase due to begin in January 1997:

(a) no Member State may be forced to take part against its will,

(b) no Member State may oppose the transition to this phase but certain Member States may, where they so request and taking account of their specific situation, be granted longer time-limits enabling them to meet the conditions of EMU,

(c) no Member State may be excluded from taking part in the third phase provided it undertakes to accept all the relevant obligations laid down on the basis of jointly agreed criteria;

5. Welcomes the consensus reached at Apeldoorn to abandon the idea of a two-speed Economic and Monetary Union proposed by certain parties;

The transitional period

6. Approves the conclusions of the European Council of 27 and 28 October 1990 regarding a short transitional period commencing on 1 January 1994 during which the European Central Bank would be created; the fully operational state of the Bank should mark the beginning of the third stage of EMU;

7. Could accept the creation of a European Monetary Institute during the second phase if it proves impossible to establish a Central Bank rapidly, provided that such an institute were given sufficient autonomy and independence to prepare for the entry into force of the future European Central Bank and that it assumed the tasks relating to the completion of the second phase, namely, promotion of the ECU, prudential supervision of banks, coordination of exchange-rate policies in respect of third currencies and the proper functioning of the internal payments system;

8. Believes that during the transitional period the following objectives should be actively pursued:

(a) full involvement of the European Parliament in decision-making,

(b) real and nominal convergence of the economic development required to ensure that the advantages of Economic and Monetary Union will be accessible on an equitable basis to all the countries and regions of the Community,

(c) the achievement of a common accord on national accounting conventions necessary for the operation of Phase 3, such as definitions of budgetary deficits and public debt,

(d) a procedure based on majority decisions, based on jointly agreed transparent and objective criteria, for ascertaining the existence of this convergence before going on to the final stage,

(e) continuity between the present ECU and the single currency by means of a programme to encourage the use of the ECU involving measures aimed at eliminating administrative, legal and technical barriers and through the non-devaluation of the ECU in respect of the strongest Community currency;

(f) the implementation of economic cohesion policies and social policies which must become a fundamental element of the reform of the Treaties and to which strong stimulus will have to be given in future,

(g) the decision by all the Member States to accord their own national banks the necessary autonomy to facilitate monetary convergence at European level;

9. Will not be able to approve the results of the Intergovernmental Conference on EMU if these diverge significantly from Parliament's positions as set out in its resolutions of 10 October 1990 and 14 June 1991, in particular as regards democratic control;

Transport and Tourism Policy

10. Recalls its resolution of 22 November 1990 on the Intergovernmental Conferences in the context of the European Parliament's strategy for European UnionOJ No. C 324, 24.12.1990, p. 219 which proposes a number of amendments to the Treaty in the field of transport, notably the application of joint decision-making in all areas and Community powers to adopt positive measures in the field of transport safety, structural policy (to promote the competitiveness of undertakings) and transport infrastructures by setting up a common fund, a Community maritime shipping register and a European civil aviation authority;

11. Considers that such proposals constitute a minimum prerequisite for pursuing the objectives of a common transport and tourism policy and calls on the Intergovernmental Conference on Economic and Monetary Union to adopt such proposals;

12. Recalls the decisions contained in its resolutions of 13 December 1990 on a Community tourism policy and the European Year of Tourism (1990)OJ No. C 19, 28.01.1991, p. 238 and of 11 June 1991 on the common transport policyMinutes of that date, Part II, Item 6 seeking to include a Community tourism policy in the Treaty;

13.Instructs its President to forward this resolution to the parliaments and governments of the Member States, the Intergovernmental Conferences and the Commission.