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Parliamentary questions
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21 November 2018
Question for written answer E-005862-18
to the Commission
Rule 130
Nikolaos Chountis (GUE/NGL)

 Subject:  Macroeconomic imbalance procedure
 Answer in writing 

According to the rules of economic governance, all EU Member States are audited for compliance with the economic fundamentals through the European Semester process.

Since the expiry of the 3rd Memorandum, Greece has been fully subject to supervision under the EU’s economic governance and, in addition, to the post-programme surveillance process provided for in Regulation 472/2013.

On the basis of the most recent Eurostat data for the country, the economic variables which show a deviation from the binding values set by the Macroeconomic Imbalance Procedure (MIP) are as follows: the unemployment rate, which is above 10%; government debt, which is more than 60% of GDP; the five-year average authorised reduction in export market shares, which is above the 6% threshold; and the net investment position, which exceeds the prescribed limit of ‐35%.

Given that the Alert Mechanism Report foreseen by the MIP will be published in November, can the Commission say:

Does it consider that the above deviations pose macroeconomic risks that could trigger prescribed ‘corrective’ procedures?

If so, what are they?

Will concrete measures and policies, specifically targeted at macroeconomic imbalances, be needed and, if so, what are they?

Original language of question: EL 
Last updated: 4 December 2018Legal notice