ESM and European Parliament sign Memorandum of Cooperation

(Luxembourg/Brussels) — The European Stability Mechanism (ESM) and the European Parliament signed on 7 May a Memorandum of Cooperation (MoC) to establish a framework of cooperation between the two institutions.

This MoC builds on a longstanding dialogue between the two institutions, including exchanges in the context of the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and of the Inter-institutional Conference on Stability, Economic Coordination and Governance of the European Union.

The cooperation will be strengthened through exchanges of views during bilateral meetings. In particular, the ECON Committee will invite the ESM Managing Director to participate in exchanges of views with the Committee at least once a year. In turn, the ESM will invite a delegation of the ECON Committee on an annual basis.

“This agreement reflects the ESM’s commitment to further enhancing transparency, accountability, and inter-institutional dialogue. The ESM has had an ongoing dialogue with the European Parliament since 2012. It has presented to the Parliament, on a voluntary basis, important developments concerning ESM activities and the euro area. This additional step will strengthen the engagement with the Parliament, ensuring a more robust framework for discussions,” said ESM Managing Director Pierre Gramegna.