MEPs will ask the Commission and the member states to explain why they are dragging their feet on crucial financial sector reform legislation in a debate starting at 8.30 on Wednesday. This includes draft rules to protect small savers, which have been blocked by Council for well over a year, and a Commission proposal on trading in securities which was supposed to be presented in 2010.
A resolution clearly identifying the various cases in which the Commission or the Council have been blocking progress with legislation will be voted on Thursday.
To date, the Council has failed to engage in talks with Parliament on rules to guarantee deposits up to €100 000 or adopt its negotiating position on crucial rules for safer trading platforms (review of markets in financial instruments directive). Parliament has been ready to negotiate since February 2012 and October 2012 respectively.
You can watch the plenary debate via EP Live, and EbS+.