Interinstitutional agreement on budgetary discipline and sound financial management for the period 2007-2013

The Council was briefed by the presidency on progress in negotiations with the European Parliament on a proposal for renewal of an agreement between the EU institutions on budgetary discipline and improvement of the EU's annual budgetary procedure. It held a brief exchange of views and agreed to take stock at its meeting on 20 and 21 March 2006.

The Commission's proposal, whilst maintaining the main features of the current inter-institutional agreement (IIA), is aimed at updating and simplifying various agreements and joint declarations on budgetary matters. It takes account of the agreement reached by the European Council on 16 December on the EU's budgetary framework for the 2007-13 period.

At a meeting on 21 February, representatives of Parliament, Council and Commission examined the proposals and agreed to continue work with a view to reaching agreement on the IIA and the new budgetary framework in April.

A further "trilogue" meeting is scheduled for 21 March.