Transatlantic Regulatory Cooperation: A Possible Role for Congress [March 9, 2009] [open pdf - 212KB]
"The United States and the European Union (EU) share a comprehensive, dynamic, and mutually beneficial economic relationship. Transatlantic markets are among the most open in the world and are deeply integrated. The current global economic crisis has begun to have a significant negative impact on the transatlantic economy. Nevertheless, the great stake each side has had in the other's economy affords both sides the ability to withstand each other's current economic down-turn. The key measure of the strength of the transatlantic relationship could be the ability of both sides to work with each other to weather the current financial storm. […] Although the Transatlantic Legislators' Dialogue (TLD) has been in existence since 1999, there appears to be a lack of familiarity with its structure, membership, and function. With respect to its role in the Transatlantic Economic Council (TEC) process, several questions have been raised including the makeup of the TLD, the role of the standing committees in both the Congress and the Parliament, the staff, and the role of the U.S. Senate. A number of options for reform have been proposed. This report will provide background and analysis on the TEC process, the role of the Congress, and the TLD. This Report will be updated as events warrant."
CRS Report for Congress, RL34735