The EESC believes that the action plan for financial services
launched three years ago has already delivered good results both for the payment system and for the financial markets, but stresses that "there is still progress to be made in monitoring measures, exercising the right to vote and the merger of companies".
To this end, the EU is seeking to move forward on the basis of an ambitious Action Plan for Financial Services
The 2001 report does not dwell on the expected trend in the comitology but refers to the starting point on the basis of the procedure followed to implement an action plan for financial services
. This helped to test a system whose general application in other internal market areas is being championed by the European Commission and the Council.
The original proposal formed part of the programme of measures featured in the 1985 White Paper on the completion of the Internal Market.* The May 1999 Action Plan for Financial Services
singled out the proposed Takeovers Directive as a key element for integrated financial markets.
--The Basle Committee of Banking Supervision's June 1999 consultative paper was published shortly after the European Commission's May 11 Action Plan for financial services
that was subsequently endorsed by EU Heads of State and Government at the June 4/5 Cologne Summit.
The Action Plan for Financial Services
set a target date for the proposal of mid-1999 and I was determined to respect that deadline".