EU- Leading figures from EU institutions, governments, regulatory bodies and the financial services industry are meeting in Brussels on Friday to assess the progress towards financial integration in Europe.

This mid-term review of the financial services action plan, which includes the pensions directive and the Lamfalussy report, will look at progress to date and at what needs to be done to meet the target of implementing the plan by 2005.

EC president Romano Prodi and Internal Market Commissioner Frits Bolkestein will address the meeting, as will economic and monetary affairs commissioner Pedro Solbes, president of the EU's Council of Finance Ministers Rodrigo de Rato y Figaredo and Belgian Finance Minister Didier Reynders.

Other speakers will include Danish Finance Minister Thor Pedersen and Alexander Lamfalussy, chair of the Committee of Wise Men. President Prodi says the mid-term review will help boost momentum in the approach to the Barcelona Summit in March.

Mr Bolkestein added: “The review will help us to assess how far we have come, what remains to be done, how we can best achieve it and whether additional measures may be needed in the light of market developments since the FSAP was launched.”

The review is one of a series of gatherings in the run up to the Barcelona summit. Its conclusions will feed into the 14th meeting of the Financial services policy group, comprising personal representatives of Finance Ministers, next Tuesday and will subsequently be discussed at the Council of Finance Ministers on 5 March.

Details of the programme of the mid-term review are available on http://www.europa.eu.int/comm/internal_market/en/finances/actionplan/index.htm



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