BETA


2003/0095(COD) General government: quarterly financial accounts, ESA 95 categories

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON LULLING Astrid (icon: PPE-DE PPE-DE)
Former Responsible Committee ECON LULLING Astrid (icon: PPE-DE PPE-DE)
Lead committee dossier:
Legal Basis:
EC Treaty (after Amsterdam) EC 285

Events

2007/05/03
   EC - Follow-up document
Details

Regulation No 501/2004 requires Eurostat to submit a report assessing the reliability of quarterly data delivered by the Member States. In presenting this Communication to the Parliament and to the Council the Commission is fulfilling this obligation.

In brief, the legislative backdrop to this Report is as follows:

- Regulation (EC) No 264/2000 and Regulation EC No 1221/2202, requiring the Member States to send quarterly non-financial accounts for general government (i.e. revenue and expenditure) to Eurostat in accordance with ESA95;

- Regulation (EC) No 501/2004 (the purpose of the Report being summarised here), defining government financing activities and balance sheets in accordance with ESA 95; and

- Regulation (EC) No 1222/2004 completing the coverage of the quarterly fiscal reporting by proving quarterly reports on government debt .

The quarterly financial accounts for general government that the Member States forward to Eurostat consists of data encompassing up to 300 time series per country on transactions and stocks of financial assets and liabilities of government – central, regional and local. By December 2005 Eurostat had received all the data from all the Member States in accordance with the provisions set out in Regulation EC No 501/2004.

Eurostat has structured this report along the following lines: general sections setting out the underlying concepts, technical issues and main country findings and a final section with a summary of the conclusions and recommendation country by country. The report is based on the Eurostat database and metadata available as from 15 March 2006.

The main findings of the report are as follows:

- Significant progress has been achieved regarding the compilation of QFAGG.

- Data for most countries are of appropriate quality, useful for analytical purposes and suitable for meaningful Euro area and EU aggregate compilation.

- Some Member States must implement specific measures to improve the quality of the reported data. In some cases, improvement could be achieved by complying with Community reporting obligations and the deadlines for forwarding data to Eurostat. Such a measure would prevent the Commission from needing to initiate infringement procedures under the Treaty.

- The publication of QFAGG needs to be promoted, with appropriate guidance to users by providing metadata to reflect national practices, warning users of the volatility of these quarterly figures and helping to interpret discrepancies. Publication would foster quality.

To conclude, the assessment will be repeated in order to monitor Member State progress.

2004/03/19
   Final act published in Official Journal
2004/03/10
   CSL - Final act signed
2004/03/10
   EP - End of procedure in Parliament
2004/02/10
   EP - Text adopted by Parliament, 2nd reading
2004/02/10
   EP - Decision by Parliament, 2nd reading
Documents
2004/01/27
   EP - Committee recommendation tabled for plenary, 2nd reading
Documents
2004/01/27
   EP - Vote in committee, 2nd reading
2004/01/26
   EP - Committee recommendation tabled for plenary, 2nd reading
Documents
2004/01/15
   EP - Committee referral announced in Parliament, 2nd reading
2004/01/14
   EC - Commission communication on Council's position
2003/12/22
   CSL - Council position
2003/12/22
   CSL - Council Meeting
2003/12/21
   CSL - Council position published
Documents
2003/12/05
   CSL - Council statement on its position
Documents
2003/10/21
   EP - Text adopted by Parliament, 1st reading/single reading
2003/10/21
   EP - Decision by Parliament, 1st reading
Documents
2003/10/01
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
2003/10/01
   EP - Vote in committee, 1st reading
2003/09/30
   EP - Committee report tabled for plenary, 1st reading
Documents
2003/07/08
   ECB - Document attached to the procedure
2003/06/04
   EP - LULLING Astrid (PPE-DE) appointed as rapporteur in ECON
2003/06/04
   EP - LULLING Astrid (PPE-DE) appointed as rapporteur in ECON
2003/05/12
   EP - Committee referral announced in Parliament, 1st reading
2003/05/08
   EC - Legislative proposal
2003/05/07
   EC - Legislative proposal published

Documents

History

(these mark the time of scraping, not the official date of the change)

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  • date: 2003-05-08T00:00:00 docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2003/0242/COM_COM(2003)0242_EN.pdf title: COM(2003)0242 type: Legislative proposal published celexid: CELEX:52003PC0242:EN body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat type: Legislative proposal published
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  • date: 2004-03-10T00:00:00 body: CSL type: Final act signed
  • date: 2004-03-10T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2004-03-19T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32004R0501 title: Regulation 2004/501 url: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2004:081:TOC title: OJ L 081 19.03.2004, p. 0001-0005
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  • date: 2003-12-05T00:00:00 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=15751%2F03&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 15751/2003 type: Council statement on its position body: CSL
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  • date: 2004-01-14T00:00:00 docs: url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2003&nu_doc=25 title: EUR-Lex title: COM(2003)0025 summary: type: Commission communication on Council's position body: EC
  • date: 2004-01-27T00:00:00 docs: title: PE333.101 type: Committee draft report body: EP
  • date: 2004-01-27T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-39&language=EN title: A5-0039/2004 type: Committee recommendation tabled for plenary, 2nd reading body: EP
  • date: 2004-02-10T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-65 title: T5-0065/2004 title: OJ C 097 22.04.2004, p. 0029-0069 E summary: type: Text adopted by Parliament, 2nd reading body: EP
  • date: 2007-05-03T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2007/0230/COM_COM(2007)0230_EN.pdf title: COM(2007)0230 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2007&nu_doc=230 title: EUR-Lex summary: Regulation No 501/2004 requires Eurostat to submit a report assessing the reliability of quarterly data delivered by the Member States. In presenting this Communication to the Parliament and to the Council the Commission is fulfilling this obligation. In brief, the legislative backdrop to this Report is as follows: - Regulation (EC) No 264/2000 and Regulation EC No 1221/2202, requiring the Member States to send quarterly non-financial accounts for general government (i.e. revenue and expenditure) to Eurostat in accordance with ESA95; - Regulation (EC) No 501/2004 (the purpose of the Report being summarised here), defining government financing activities and balance sheets in accordance with ESA 95; and - Regulation (EC) No 1222/2004 completing the coverage of the quarterly fiscal reporting by proving quarterly reports on government debt . The quarterly financial accounts for general government that the Member States forward to Eurostat consists of data encompassing up to 300 time series per country on transactions and stocks of financial assets and liabilities of government – central, regional and local. By December 2005 Eurostat had received all the data from all the Member States in accordance with the provisions set out in Regulation EC No 501/2004. Eurostat has structured this report along the following lines: general sections setting out the underlying concepts, technical issues and main country findings and a final section with a summary of the conclusions and recommendation country by country. The report is based on the Eurostat database and metadata available as from 15 March 2006. The main findings of the report are as follows: - Significant progress has been achieved regarding the compilation of QFAGG. - Data for most countries are of appropriate quality, useful for analytical purposes and suitable for meaningful Euro area and EU aggregate compilation. - Some Member States must implement specific measures to improve the quality of the reported data. In some cases, improvement could be achieved by complying with Community reporting obligations and the deadlines for forwarding data to Eurostat. Such a measure would prevent the Commission from needing to initiate infringement procedures under the Treaty. - The publication of QFAGG needs to be promoted, with appropriate guidance to users by providing metadata to reflect national practices, warning users of the volatility of these quarterly figures and helping to interpret discrepancies. Publication would foster quality. To conclude, the assessment will be repeated in order to monitor Member State progress. type: Follow-up document body: EC
events
  • date: 2003-05-08T00:00:00 type: Legislative proposal published body: EC docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2003/0242/COM_COM(2003)0242_EN.pdf title: COM(2003)0242 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2003&nu_doc=242 title: EUR-Lex summary:
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  • date: 2003-10-01T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2003-320&language=EN title: A5-0320/2003
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  • date: 2003-12-22T00:00:00 type: Council position published body: CSL docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=15172%2F03&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 15172/1/2003 summary:
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  • date: 2004-01-27T00:00:00 type: Vote in committee, 2nd reading body: EP summary:
  • date: 2004-01-27T00:00:00 type: Committee recommendation tabled for plenary, 2nd reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-39&language=EN title: A5-0039/2004
  • date: 2004-02-10T00:00:00 type: Decision by Parliament, 2nd reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-65 title: T5-0065/2004 summary:
  • date: 2004-03-10T00:00:00 type: Final act signed body: CSL
  • date: 2004-03-10T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2004-03-19T00:00:00 type: Final act published in Official Journal docs: title: Regulation 2004/501 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32004R0501 title: OJ L 081 19.03.2004, p. 0001-0005 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2004:081:TOC
other
  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat
procedure/dossier_of_the_committee
Old
ECON/5/20255
New
  • ECON/5/20255
procedure/final/url
Old
http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32004R0501
New
https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32004R0501
procedure/subject
Old
  • 5.10.01 Convergence of economic policies, public deficit, interest rates
New
5.10.01
Convergence of economic policies, public deficit, interest rates
activities/0/docs/0/url
Old
http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2003/0242/COM_COM(2003)0242_EN.pdf
New
http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2003/0242/COM_COM(2003)0242_EN.pdf
links/European Commission/title
Old
PreLex
New
EUR-Lex
activities
  • date: 2003-05-08T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2003/0242/COM_COM(2003)0242_EN.pdf celexid: CELEX:52003PC0242:EN type: Legislative proposal published title: COM(2003)0242 type: Legislative proposal published body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat
  • date: 2003-05-12T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: ECON date: 2003-06-04T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
  • body: EP committees: body: EP responsible: True committee: ECON date: 2003-06-04T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2003-320&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A5-0320/2003 date: 2003-10-01T00:00:00 type: Vote in committee, 1st reading/single reading
  • date: 2003-10-21T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2003-436 type: Decision by Parliament, 1st reading/single reading title: T5-0436/2003 body: EP type: Decision by Parliament, 1st reading/single reading
  • body: CSL meeting_id: 2556 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=15172%2F03&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC type: Council position published title: 15172/1/2003 council: Environment date: 2003-12-22T00:00:00 type: Council Meeting
  • date: 2004-01-15T00:00:00 body: EP type: Committee referral announced in Parliament, 2nd reading committees: body: EP responsible: True committee: ECON date: 2003-06-04T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
  • body: EP committees: body: EP responsible: True committee: ECON date: 2003-06-04T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-39&language=EN type: Committee recommendation tabled for plenary, 2nd reading title: A5-0039/2004 date: 2004-01-27T00:00:00 type: Vote in committee, 2nd reading
  • date: 2004-02-10T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-65 type: Decision by Parliament, 2nd reading title: T5-0065/2004 body: EP type: Decision by Parliament, 2nd reading
  • date: 2004-03-10T00:00:00 body: CSL type: Final act signed
  • date: 2004-03-10T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2004-03-19T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32004R0501 title: Regulation 2004/501 url: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2004:081:TOC title: OJ L 081 19.03.2004, p. 0001-0005
committees
  • body: EP responsible: True committee: ECON date: 2003-06-04T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
links
European Commission
other
  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat
procedure
dossier_of_the_committee
ECON/5/20255
reference
2003/0095(COD)
instrument
Regulation
legal_basis
EC Treaty (after Amsterdam) EC 285
stage_reached
Procedure completed
subtype
Legislation
title
General government: quarterly financial accounts, ESA 95 categories
type
COD - Ordinary legislative procedure (ex-codecision procedure)
final
subject
5.10.01 Convergence of economic policies, public deficit, interest rates