European Fisheries Fund: extension of increased co-financing for Member States threatened with serious difficulties with respect to their financial stability

The European Parliament adopted by 463 votes to 22, with 2 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council on amending Council Regulation (EC) No 1198/2006 as regards certain provisions relating to financial management for certain Member States experiencing or threatened with serious difficulties with respect to their financial stability.

Parliament adopted its position in first reading following the ordinary legislative procedure. The amendments adopted in plenary are the result of an agreement between Parliament and Council.

Members proposed to amend Regulation (EC) No 1198/2006 on the European Fisheries Fund (EFF) so that, by way of derogation from the Regulation, at the request of a Member State, interim payments shall be increased by an amount corresponding to 10 percentage points above the co-financing rate applicable to each priority axis, up to a maximum of 100%, to be applied to the amount of eligible public expenditure newly declared in each certified statement of expenditure submitted provided that the Member State, on or after 31 December 2013, subject to certain.

The Regulation should apply from 1 January 2014.