Directorate-General for Internal Policies Committee on Economic and Monetary Affairs The Chairwoman Bucharest, 14 September 2007 PRESS RELEASE ECON Delegation visits Sofia and Bucharest 12-14 September 2007 A few months after accession of Bulgaria and Rumania to the European Union, a delegation of 4 Members of the Committee on Economic and Monetary Affairs of the European Parliament (ECON) visited Sofia and Bucharest on 12 to 14 September 2007. The visit was led by Ms Pervenche Berès (PES/F), Chairwoman of the Committee, accompanied by a delegation including Mr Wolf Klinz (ALDE/D), Mr Zsolt László Becsey (EPP-ED/H) and Ms Elisa Ferreira (PES/P). In Sofia the delegation was joined by two Bulgarian ECON Members, Mr Kristian Vigenin (PES) and Ms Mariela Velichkova Baeva (ALDE). The visit reflects the interest of the European Parliament in establishing strong links and an intensive dialogue with Bulgarian and Romanian decision makers after the accession of both countries to the EU. It was therefore essential for the ECON delegation to have in-depth discussions with their counterparts of the Bulgarian and Rumanian Parliaments' committees, competent in the field of European, economic and financial affaires. The ECON delegation also met with the Bulgarian Minister of finance, Mr Oresharski, the Gouvernors of both Central banks, as well as with the supervisory bodies for financial services. The ECON delegation was very interested to discuss policies aiming at enhancing growth and competitiveness, fighting trade and current account deficits, and improving public finances. During several meetings, Members focused on taxation policies with in-depth discussions on the flat-tax schemes in both countries. Another focus of the discussions, in particular during meetings with the social partners, was on developments in the labour market, such as immigration and wage issues. The ECON Committee Members also discussed the ongoing integration of Bulgaria and Rumania into the internal market for financial services, the Solvency II legislative proposal and, in particular, the convergence of supervisory practices in the EU. The impact of the recent financial crisis and the lessons to be learned were also high on the agenda during the various meetings. The ECON Delegation was also interested in discussions on the way structural funds should be efficiently used in the two new Member States. For further information, please contact Pervenche Berès, Tel: +32 2 28 47 777, e-mail: [email protected] 2.