EC General budget: 8th amendment 1977 Financial regulation including 3rd phase of EMU (euro, Stability Pact)

The committee approved, with amendments, the Commission's proposal to amend/modify the Financial Regulation to take account of the Amsterdam Treaty and the introduction of the euro. The amendments deal with the creation of a separate section of the budget for the Ombudsman, the adjustments to be made to the budget once the common organisational structure of the Economic and Social Committee and the Committee of Regions has been abolished, the revenue and expenditure of the decentralised bodies (agencies) and the rationalisation of administrative expenditure in the area of interinstitutional cooperation on the basis of value for money. �