RESULTS GENERAL AFFAIRS COUNCIL 16 MAY

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RESULTS GENERAL AFFAIRS COUNCIL 16 MAY
16 May 2017

RESULTS GENERAL AFFAIRS COUNCIL 16 MAY

Brussels Daily

 

Main results General Affairs Council

June European Council

The Council started preparations of the European Council on 22 and 23 June 2017 by examining an annotated draft agenda covering the following items:

  • Migration: the European Council will take stock of work on 1) the Central Mediterranean route, including the Partnership Framework 2) the Eastern Mediterranean route, including the EU-Turkey statement 3) reform of the Common European Asylum System and 4) the root causes of migration
  • Security and defence: the European Council will review what has been achieved over recent months
  • Jobs, growth and competitiveness: the European Council will assess progress towards completing the single market by 2018, the digital single market strategy, the capital markets union action plan and the energy union
  • External relations: the European Council will address this item in the light of the most recent developments

“The agenda of the June European Council is a reflection of the EU’s current priorities: keeping migration under control and fighting its root causes, making the life of European citizens more secure, boosting growth and creating new jobs. Today’s discussion was a first step towards ensuring that the June European Council is productive and successful”.

Louis Grech, Deputy Prime Minister of Malta and President of the Council.

Future of the EU

The Commission called for further reflection on the future of the EU on the basis of its white paper according to the following principles:

  • using the full potential of the EU treaties
  • moving forward together at 27 member states
  • delivering on the promises

“A successful completion of the reflection process will result in a stronger European Union, thereby securing European peace and prosperity for future generations. The future of the European Union will depend on our ability to respond effectively to the issues which are of concern to citizens”.

Louis Grech, Deputy Prime Minister of Malta and President of the Council.

Financial services

The Council adopted rules on money market funds and on prospectuses for the issuing and offering of securities.

The regulation on money market funds is intended to support the role that the €1 trillion money market plays in financing the economy. It follows initiatives by the G20 and the Financial Stability Board.

The new prospectus rules are aimed at lowering one of the main regulatory hurdles that companies face when issuing equity and debt securities. It is a key component of the EU’s capital markets union plan.

Rule of law

The Commission informed the Council on the state of play of its dialogue with Poland on the rule of law. Ministers emphasised the importance of continuing the dialogue between the Commission and Poland.

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