Judicial cooperation: financial penalties, mutual recognition. Framework Decision. Initiative France, Sweden and United Kingdom

The Council agreed that the Presidency's text on the draft Framework decision on the application of the principle of mutual recognition to financial penalties should be considered as a good basis for reaching an agreement on this issue in the near future. It is recalled that, at its meeting on 14 and 15 October 2002, the Council agreed on the definitions of the proposal (Article 1): "decision", "financial penalty", "issuing State" and "executing State". This established a clear reference point for the purpose of the further examination of a number of key Articles. The Council, at that meeting, also confirmed that the Framework Decision would not have the effect of amending the obligation to respect fundamental rights and fundamental legal principles as enshrined in Article 6 of the Treaty on European Union.�