Broad guidelines of the economic policies of the Member States and the Community for 2001

The European Parliament adopted the report by Mr Karl Von WOGAU (EPP/ED, D) on the Commission's recommendations for the broad guidelines of the economic policies of the Member States and the Community in 2001. (Please refer to the previous document). On monetary policy and the role of the ECB, Parliament reaffirmed it's suuport for the Bank's prime role in combating inflation and thus laying the foundations for growth and employment. Moreover, there is a need for greater cooperation between Member States in economic policy making, Parliament believes. Agreement on a Community patent, biotechnology and communication systems are other priorities and there is also support for opening up the public procurements market for defence contracts. Furthermore, the Parliament is dissatisfied with the present arrangements for formulating economic policy making at a European level and would like to see a change in procedures with a view to increasing Parliament's role in the process.�