Lamfalussy update

Karel Lannoo, Senior Research Fellow, Centre for European Policy Studies.

The Lamfalussy process seems to get further stuck in policy problems. The problem with the European Parliament on the call-back is far from resolved and the first directives, proposed under the Lamfalussy approach, have not been well received by the market. The European Parliament has in the meantime gone into summer recess without any sign of progress in its dispute with the European Commission and the EU Council.