The incoming Latvian presidency of the EU will have to resolve major divisions among member states on the new market stability reserve, including on its start date and a review clause.
Member states have made some progress but work is needed before the Council can establish a position for talks with MEPs, the Italian presidency said in a progress note dated 5 December.
The Commission proposed a 2021 start date but some delegations have proposed earlier dates ranging from 2017 to 2019 and also want to place the 900 ‘backloaded’ allowances directly into the reserve instead of releasing them onto the market in 2019.
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