Committees · Economic and Monetary Affairs

ECON

2 ESN seats

Economic and Monetary Affairs.

The Committee on Economic and Monetary Affairs is responsible for EU economic governance, financial services, banking regulation, capital markets, monetary policy and the functioning of the Economic and Monetary Union.

ESN seats

Members total

Subcommittees

2024–29

10th term

Mandate & Tasks

What This Committee Handles.

It scrutinises legislation affecting the financial sector, taxation, digital finance, payment systems and the European Central Bank, while helping to shape the Union’s economic and financial framework.

Key facts · ECON

Full name

Committee on Economic and Monetary Affairs

Size

60 members

ESN seats

2 of 60

Subcommittees

Meeting cycle

Legal basis

Annex VI of the EP Rules of Procedure

ESN in ECON

The future of the Economic and Monetary Union, digital finance and financial-market regulation.

— ESN Committee Booklet · Committee on Economic and Monetary Affairs

Remit

Four Policy Areas of the Committee.

ESN Position

Our Line in the Committee.

The Group’s priorities in this committee, as set out in the ESN Committee Booklet.

Sound Public Finances

ESN advocates sound public finances, national economic sovereignty and proportionate financial regulation.

Opposes Unnecessary Centralisation

It opposes unnecessary centralisation of economic and monetary competences, excessive regulatory burdens and further transfers of sovereignty to EU institutions.

Competitive Markets and Financial Stability

ESN supports competitive markets, financial stability and innovation while safeguarding the responsibilities of the Member States and democratic accountability.

ESN Members in ECON

Two Seats in This Committee.

The two ESN seats in ECON are held by the Members listed below. The named assignment is updated at the start of each session period.

Full Member

Siegbert DROESE

Full Member

Rada LAYKOVA

Substitute Member

Alexander JUNGBLUTH

Substitute Member

Volker SCHNURRBUSCH

As of 2026 · Full list with named assignments available on request from the secretariat

Track record

Key Achievements.

Under the leadership of Siegbert Droese and Rada Laykova, ESN has established itself as a consistent advocate for subsidiarity and national sovereignty in ECON. As shadow rapporteur on the Digital Euro package, ESN tabled numerous amendments challenging the legal basis, proportionality and centralising elements of the proposed framework. It has also contributed to debates on Banking Union, Capital Markets Union, the ECB Annual Report and broader financial legislation, consistently defending economic freedom, limited EU competences and proportionate regulation while highlighting the impact of new initiatives on businesses, financial institutions and citizens.

ESN in action

Challenged the legal basis and proportionality of the Digital Euro framework.

Defended national competences in Banking Union and Capital Markets Union debates.

Promoted competitive markets and proportionate financial regulation.

Outlook

Looking Ahead.

The coming years will be decisive for the future of the Economic and Monetary Union, digital finance and financial-market regulation. ESN will continue to scrutinise proposals on the Digital Euro, Banking Union, Capital Markets Union and related legislation. It will resist unnecessary centralisation, safeguard the competences of the Member States and promote regulatory restraint, competitive markets, economic freedom and democratic accountability.

Documents

From the Parliament.

Studies, briefings and meeting documents of this committee, published by the European Parliament.

Draft Report · 2026

Proposal for a Council directive on administrative cooperation in the field of taxation (recast)

Draft Report · 2026

Competitiveness of the banking sector in the European Union

Draft Report · 2026

Proposal for the appointment of the Chairperson of the European Securities and Markets Authority

Draft Report · 2026

Proposal for the appointment of the Executive Director of the European Banking Authority

Draft Report · 2026

Proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2019/1238 on a pan-European Personal Pension Product (PEPP)

Draft Report · 2026

Draft Council regulation amending Council Regulation (EC) No 332/2002 as regards funding arrangements and the use of a diversified funding strategy

Draft Report · 2026

Proposal for a regulation of the European Parliament and of the Council on settlement finality and repealing Directive 98/26/EC and amending Directive 2002/47/EC on financial collateral arrangements

Draft Report · 2026

Proposal for a directive of the European Parliament and of the Council amending Directives 2009/65/EC, 2011/61/EU and 2014/65/EU as regards the further development of capital market integration and supervision within the Union

Related committees

Also of Interest.

Three closely related committees in which the ESN Group is represented.

HOUS

Housing Crisis in the European Union

The Special Committee on the Housing Crisis in the European Union examines the causes of housing shortages and declining affordability and proposes solutions for decent, sustainable and affordable housing.

FISC

Tax Matters

The Subcommittee on Tax Matters focuses on EU tax policy, tax transparency, corporate taxation and the fight against tax fraud and tax evasion.

EMPL

Employment and Social Affairs

The Committee on Employment and Social Affairs is responsible for employment and social policy.