- Significant parts of inter-institutional cooperation in the budgetary sector are obsolete, due to the changes in the budget procedure introduced by the Lisbon Treaty (no second reading, 21 day conciliation committee, possibility for the Commission to amend the draft budget up to the conciliation committee etc.).

The second sentence of Point 9 of the current IIA (“ It [financial framework] constitutes the reference framework for the interinstitutional discipline “) and point 10 are rendered obsolete by the Treaty that specifies the purpose of the financial framework.

The convergence criterion dealing with the government budgetary position is defined in the second indent of Article 121(1) of the Treaty as “the sustainability of the government financial position: this will be apparent from having achieved a government budgetary position without a deficit that is excessive as determined in accordance with Article 104(6)”.

The convergence criterion dealing with the government budgetary position is defined in the second indent of Article 121(1) of the Treaty as “the sustainability of the government financial position: this will be apparent from having achieved a government budgetary position without a deficit that is excessive as determined in accordance with Article 104(6)”.

Article 300 of the Treaty establishing the European Community specifies four instances in which the conclusion of an international agreement requires assent on the part of the European Parliament. The first is where the agreement is an association agreement within the meaning of Article 310 of the Treaty establishing the European Community; the second, agreements establishing a specific institutional framework by organising cooperation procedures; the third, agreements having important budgetary implications for the Community, and the fourth, agreements entailing amendment of an act adopted under the procedure referred to in Articles 2 ...[+++]51 or 252 of the Treaty establishing the European Community.

The Committee on Budgetary Control proposes, as an intermediate step without amending the Treaty, the establishment of an internal financial prosecutor in accordance with the three-phase model in the second report of the Committee of Wise Men.