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Ľudovít Ódor will be the Vice-Chairman of the Committee on Economic and Monetary Affairs in the EP

by AI | 23.Jul 2024 | Europe in brief AI

MEPs elected their presidency during the inaugural meeting of the EP committee, consisting of a chairperson and four vice-chairpersons. They will hold office for two and a half years, after which they can be re-elected.

Slovak MEP Ľudovít Ódor during the inaugural plenary session of the European Parliament (EP) in Strasbourg on Wednesday, July 17, 2024. PHOTO TASR - Martin Baumann

BRUSSELS – Ľudovít Ódor (PS, Renew Europe) was elected vice-chair of the Committee on Economic and Monetary Affairs (ECON) in the European Parliament (EP) on Tuesday in Brussels, reports TASR.

Ódor was elected by acclamation, without an opposing candidate. The Committee on Economic and Monetary Affairs consists of 60 MEPs. The composition and number of members were decided by European lawmakers during the constituent session in Strasbourg last week. ECON is one of the 20 permanent committees of the EP and is responsible for regulating financial services, free movement of capital and payments, tax policies and competition policies, oversight of the European Central Bank (ECB) and the international financial system.

Committees draft, amend, and adopt legislative proposals and initiative reports. They consider proposals from the European Commission and the EU Council and, if necessary, draft reports to be submitted to the plenary. They will also play a key role in the upcoming hearings of designated European Commissioners. The work of the committees is coordinated by the Conference of Committee Chairs. Ľudovít Ódor is also a member of the Subcommittee on Tax Matters (FISC) and an alternate in the Committee on the Internal Market and Consumer Protection (IMCO).

Ódor was the leader of the Progressive Slovakia candidate list in the European elections and received the highest number of preferential votes from all Slovak candidates (294,944). He entered politics on May 15, 2023, when he became the Prime Minister of Slovakia during the caretaker government of then-President Zuzana Čaputová. Previously, he served as the chief economist of the Ministry of Finance of Slovakia and director of the Institute for Financial Policy, later at the National Bank of Slovakia, since 2018 as its vice-governor.