Article 160

LONDON – Europe is now haunted by the spectre of debt. All European leaders quail before it. To exorcise the demon, they are putting their economies through the wringer.

Negotiating the details of the „Fiscal Compact“ Treaty: Much ado about nothing -

Before S&P dropped the bomb on Friday that France and Austria were losing their Triple-A-rating, most of the crisis reporting last week had been concerned with the different drafts for the new “Fiscal Compact” Treaty to be signed at the euro summit at the end of January.

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Article 160

The Council, acting by a simple majority after consulting the European Parliament, shall establish a Social Protection Committee with advisory status to promote cooperation on social protection policies between Member States and with the Commission. The tasks of the Committee shall be:

– to monitor the social situation and the development of social protection policies in the Member States and the Union,

– to promote exchanges of information, experience and good practice between Member States and with the Commission,

– without prejudice to Article 240, to prepare reports, formulate opinions or undertake other work within its fields of competence, at the request of either the Council or the Commission or on its own initiative.

In fulfilling its mandate, the Committee shall establish appropriate contacts with management and labour.

Each Member State and the Commission shall appoint two members of the Committee.

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