Where the law stands, Dossier 2024/2054(INI)
European Central Bank – annual report 2024
Own-initiative report (INI): Parliament’s own position on a topic. It is not binding. · First reading
Parliament sets out its own position on a topic. The resolution is not binding but signals what Parliament wants.
Where it stands
Parliament’s position
Parliament adopted the text on 11 February 2025. This is its final position on the matter.
- Referred to committee(done) 10 October 2024
- Committee work(done) Report adopted 16 January 2025
- Tabled for plenary(done) 23 January 2025
- Plenary vote(done) Adopted 11 February 2025
- Parliament’s position(done) Final
Decided in plenary
11 February 2025 · decision 4
Economy & single market, Resolution
European Central Bank – annual report 2024
Adopted 378 for · 233 against · 26 abstained by a clear majority
AI summary:The resolution stresses the ECB's primary objective of price stability, its political independence, and the need to avoid monetary financing of governments.
What changed
Latest Tabled for plenary → Adopted by Parliament
AI summary:The digital euro provisions are substantially changed: Parliament now demands a political decision by EU co-legislators before introduction, and the ECB must demonstrate benefits first. The call on market neutrality is softened by noting it is an operational tool, not a legal requirement. Other changes are formal: updated inflation figures and months, and a decimal separator correction.
Committee draft → Tabled for plenary
AI summary:Updates inflation data and projections to November 2024 and December 2024 Eurosystem figures, with new rates for 2025-2027. Expands the ECB's role to include financial stability and support for EU economic policies, while clarifying its mandate and independence. Rewrites fiscal and monetary policy paragraphs: drops warnings on rapid rate cuts and fiscal dominance, adds emphasis on monetary dominance, fiscal framework, and proportionality. Adds extensive new paragraphs on digital euro benefits, compensation, privacy, and financial stability, plus new topics like AI bubbles, whistleblowing, and gender balance. The other changes are formal: corrected spelling and terminology in the explanatory statement.
Who works on it
- Lead committee
- Economic and Monetary Affairs
- The MEP who drafts the report and negotiates it on behalf of the committee.
- Anouk van Brug (Renew)
- An MEP who follows a report on behalf of their own group when another group holds the rapporteur.
- Marco Falcone (EPP), Evelyn Regner (S&D), Auke Zijlstra (Patriots), Denis Nesci (ECR), Mep #96725 (Greens), Jussi Saramo (The Left)
The text, version by version
Newest first.
Adopted by Parliament· 11 Feb 2025
AI summary:Parliament's resolution on the ECB's 2023 annual report welcomes the fall in inflation, stresses the ECB's independence and accountability, and calls for careful interest rate policy.
Tabled for plenary· 23 Jan 2025
AI summary:The resolution assesses the ECB's 2024 annual report, welcoming lower inflation but urging caution on rate cuts and faster balance sheet reduction.
Committee draft· 22 Oct 2024
AI summary:This draft report on the European Central Bank's 2024 annual report welcomes lower inflation but criticises the ECB for acting late and calls for balance sheet reduction and respect for the prohibition of monetary financing.
Timeline
Newest first.
Plenary stage 4 steps
11 February 2025
Plenary vote
Sitting of 11 Feb 2025 Report A10-0003/2025Adopted text TA10-0011/2025
10 February 2025
Debated in plenary
MEPs debated the text in the chamber ahead of the vote.
4 February – 5 February 2025
41 amendments tabled for the plenary vote
Groups propose changes to the tabled text; each is voted on before the final vote.
Amendments 1–3Amendments 4–6Amendments 7–13Amendments 14–23Amendments 24–25Amendments 26–29Amendments 30–32Amendments 33–40Amendment 41
23 January 2025
Report tabled for plenary
This is the text all MEPs vote on. Political groups can still table amendments to it.
Committee stage 4 steps
16 January 2025
Committee vote: report adopted
ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.
13 November 2024
Amendments tabled in committee
Members of ECON (Economic and Monetary Affairs) proposed changes to the draft.
22 October 2024
Draft report published
The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.
10 October 2024
Referred to the ECON (Economic and Monetary Affairs) committee
The lead committee prepares Parliament’s report.
Official record: Legislative Observatory, 2024/2054(INI)