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This week, the European Parliament has decided to set up a special committee on the financial and economic crisis (CRIS). During the coming twelve months, the 45 members of the committee will examine the extent and the impact of the crisis in the Member States and propose measures for restructuring stable financial markets. Austria will be represented in the new committee by 3 members: Othmar Karas (European People’s Party), Hans-Peter Martin (Non-attached) and as a substitute member Hannes Swoboda (Socialists & Democrats).
The term of the special committee began on 8th October 2009. Its findings will be presented in two reports: the first after six months and the second at the end of the mandate, which will include recommendations for measures. The committee will among others organise hearings with social partners, experts, representatives from industry, governments and national parliaments. The special committee will also contribute to the legislative work of the permanent committees by preparing statements.