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.