Considerations on COM(2024)191 - - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2024)191 - . |
|---|---|
| document | COM(2024)191 |
| date | April 26, 2024 |
(2) On 17 September 2023, Monaco and the European Commission agreed to suspend the negotiations following the observation of both sides that it was impossible to reconcile, on one hand, the negotiating directives of the European Commission and, on the other hand, the limits set by Monaco, aimed in particular at maintaining unchanged the living, working and housing conditions of its nationals in the country.
(3) Taking account of the close historical, geographical, cultural, political and economic links between the Union, Andorra and San Marino, as well as their desire to deepen, diversify and sustain their relations by establishing a comprehensive and coherent legal framework, the negotiations with Andorra and San Marino were completed on 12 December 2023.
(4) The Agreement establishing an association between the Union and Andorra and San Marino, respectively (the ‘Agreement’) provides for the participation of the two countries in the Union’s internal market and related horizontal and flanking policies, while also replacing the current customs unions between the Union and each of these countries. The Agreement also includes a framework for possible cooperation in policy areas outside the four freedoms such as research and development, education, social policy, the environment, consumer protection, culture and regional cooperation.
(5) To ensure the effective functioning of the Union’s internal market, the Agreement foresees dynamic regulatory alignment. The Agreement further includes provisions establishing a dispute settlement mechanism with the Court of Justice of the European Union as arbiter for disputes on the interpretation and application of the Agreement.
(6) The situation of Andorra and San Marino as small-sized States is taken into account, in accordance with Declaration 3 on Article 8 of the Treaty on European Union (‘TEU’). This is reflected in a number of adaptations to the provisions of Union legal acts included in the annexes to the Agreement, as well as in several transitional periods for the implementation and application of parts of the Union’s acquis.
(7) The Agreement allows for a staggered access to the Union’s internal market for financial services, whereby Andorra and San Marino may decide not to seek access to the entire EU internal market for financial services. This possibility should not last longer than 15 years after the entry into force of the Agreement.
(8) In light of the specificities of Andorra and San Marino and the related specific rules and provisions introduced to cater for orderly and sound market integration, it was necessary to subject market access in the area of financial services to specific additional safeguards to those that govern relations between Member States in the internal market, in particular regarding the requirements on local provision of services and emergency powers of the European Supervisory Authorities.
(9) Access to the Union’s internal market on financial services should therefore depend on a comprehensive evaluation on the full and effective implementation of the Union’s acquis for the financial sector and the robustness of Andorra’s and San Marino’s regulatory and supervisory frameworks and will require the adoption by the European Commission of a positive recommendation that all necessary conditions set out in the Agreement have been fulfilled. The assessment of Andorra’s and San Marino’s regulatory and supervisory frameworks should be based on rules that are foreseen in the Union’s regulatory framework.
(10) The Agreement should be applied, on a provisional basis in accordance with Article 112 thereof, which provides for the provisional application of the Agreement before its entry into force, pending the completion of the procedures for its conclusion.
(11) It is appropriate to define the modalities of the Union’s representation in the Association Committee and the Joint Committees established by the Agreement. The European Commission, as provided for in Article 17(1) TEU, is to represent the Union and to express the Union’s positions in accordance with the Treaties.
(12) Pursuant to Article 218(7) TFEU, it is also appropriate to define the modalities for deciding on the positions to be taken on the Union’s behalf in the Joint Committees established by the Agreement in order to guarantee that the legal acts adopted by the Union in the fields covered by the Agreement are incorporated into the Agreement as soon as possible after their adoption and transmission to Andorra and San Marino with a view to ensuring, to the extent possible, the simultaneous application of those legal acts in the Union and in Andorra and San Marino respectively.
(13) It is appropriate to authorise the European Commission, pursuant to Article 218(7) TFEU, to approve on the Union’s behalf certain modifications to the Agreement that are to be adopted by a simplified procedure or by a body set up by the Agreement in accordance with the provisions of that agreement. The procedure of consultation of the Council regarding such modifications should be established.
(14) With a view to enabling the Union to take rapid and effective action to protect its interests in accordance with the Agreement, and until a specific legislative act regulating the adoption of remedial measures under the Agreement is adopted and enters into force in the Union, the European Commission should be empowered to take remedial measures, such as compensatory measures for the incorrect application of the Agreement, safeguard measures in the event of serious economic, societal and environmental difficulties of a regional nature that are caused by the application of the Agreement or safeguard measures in the event of a terrorist attack or a natural or man-made disaster that affects the Union.
(15) The Agreement should be signed, and the attached Declarations, approved, on behalf of the Union.
(16) The European Commission should ensure the signing of the Agreement subject to its conclusion.