View more on these topics

Fourth delay for ECON’s vote on Europe directive

A key stage in voting through the European mortgage directive has been delayed for the fourth time.

The European Parliament’s Economic and Monetary Affairs committee was due to vote on its amendments to the legislation last Tuesday, but this has been delayed until today.

The vote was originally scheduled for December 2011 but was delayed until February 2012, then April 24 and then May 8.

ECON is one of two committees scrutinising the directive, while the second, the Internal Markets and Consumer Protection committee, voted through its amendments on December 5 2011.

ECON’s report is being spearheaded by the rapporteur, Spanish MEP Anrolin Sanchez Presedo.

A spokeswoman for ECON says: “I do not know the precise cause of the delay, but delays usually occur because the groups do not have enough time to establish strong compromises between the groups, so they are still working on finalising the changes to the commission’s text.”

ECON will vote on issues including the 14-day cooling-off period proposed in the European mortgage directive and whether the UK will keep the Key Facts Illustration.


MS Leader: Market woes fall on deaf ears

With the Stamp Duty holiday dead and buried, the country in recession and the dark cloud emanating from Europe getting bigger on a daily basis, the gloomy housing figures for April published last week were hardly a surprise.

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


News and expert analysis straight to your inbox

Sign up