Regulation enters into application. The EESC is particularly interested in participating actively in these consultations. The EESC urges the Commission to clarify some unclear issues in particular as regards the margin of discretion left to the Member States. Contact: Siegfried Jantscher (Tel.: 00 32 2 546 82 87 email: ) – Euro area external representation Petr Zahradník (Employers CZ) Rapporteur: – COM(2015) 602 final and COM(2015) 603 final 2015/0250 (NLE) Reference: – EESC-2015-05877-00-00-AC-TRA Key points: The euro area needs to step up its external representation. This will strengthen its relative weight in international financial institutions and give it a more prominent position in international financial markets. The EESC endorses the rationale behind the two Commission documents and also agrees with making strengthening the euro area's external representation in the International Monetary Fund (IMF) the priority. At the same time, however, the EESC proposes that the European Commission also draft scenarios for making stronger and more effective the links with other relevant international bodies, taking particular account of their remits. The EESC broadly agrees with the ultimate goal of a single chair at the IMF by 2025. On this point the EESC also recommends clearly and explicitly defining the roles of euro area external representation and their dovetailing with those of the EU as a whole, with a view to preserving the integrity of the single market. The EESC agrees with the main elements of the three-phase scenario to gain a single chair at the IMF. However, the corresponding political pressure must be marshalled to secure the timely fulfilment of obligations and commitments stemming from this for the Member States. The EESC anticipates that the proposed procedure will result in better and deeper coordination between Member States in the area of economic policy and its external dimensions and expects a corresponding coordination on this between the relevant EU institutions and bodies, also ensuring the utmost transparency.
Regulation enters into application. The EESC is particularly interested in participating actively in these consultations. The EESC urges the Commission to clarify some unclear issues in particular as regards the margin of discretion left to the Member States. Contact: Siegfried Jantscher (Tel.: 00 32 2 546 82 87 – email: ) Euro area external representation Rapporteur: Petr Zahradník (Employers – CZ) Reference: COM(2015) 602 final and COM(2015) 603 final – 2015/0250 (NLE) EESC-2015-05877-00-00-AC-TRA Key points: The euro area needs to step up its external representation. This will strengthen its relative weight in international financial institutions and give it a more prominent position in international financial markets. The EESC endorses the rationale behind the two Commission documents and also agrees with making strengthening the euro area's external representation in the International Monetary Fund (IMF) the priority. At the same time, however, the EESC proposes that the European Commission also draft scenarios for making stronger and more effective the links with other relevant international bodies, taking particular account of their remits. The EESC broadly agrees with the ultimate goal of a single chair at the IMF by 2025. On this point the EESC also recommends clearly and explicitly defining the roles of euro area external representation and their dovetailing with those of the EU as a whole, with a view to preserving the integrity of the single market. The EESC agrees with the main elements of the three-phase scenario to gain a single chair at the IMF. However, the corresponding political pressure must be marshalled to secure the timely fulfilment of obligations and commitments stemming from this for the Member States. The EESC anticipates that the proposed procedure will result in better and deeper coordination between Member States in the area of economic policy and its external dimensions and expects a corresponding coordination on this between the relevant EU institutions and bodies, also ensuring the utmost transparency.