246

result(s)

Word(s)
Publication type
Author
Keyword
Date

Key features of 2018 Draft Budgetary Plans

20-11-2017

This document compares key features of the 2018 Draft Budgetary Plans (DBP) with the autumn 2017 forecasts by the European Commission (EC) and key features included in the 2017 Stability Programmes (SP) with the spring 2017 forecasts by the EC. While blue cells indicate that the Member State is more optimistic than the EC forecast, grey cells indicate that the Member State is less optimistic than the EC forecast. An overview comparing these figures with the required fiscal efforts and the medium-term ...

This document compares key features of the 2018 Draft Budgetary Plans (DBP) with the autumn 2017 forecasts by the European Commission (EC) and key features included in the 2017 Stability Programmes (SP) with the spring 2017 forecasts by the EC. While blue cells indicate that the Member State is more optimistic than the EC forecast, grey cells indicate that the Member State is less optimistic than the EC forecast. An overview comparing these figures with the required fiscal efforts and the medium-term budgetary objectives in structural terms (MTO) as included in the latest Council decisions/recommendations is provided in a separate EGOV table.

How to further strengthen the European Semester?

20-11-2017

The economic governance of the European Monetary Union is yearly organized during the so-called European Semester. The improvement of the European Semester is an on-going process, and some recent propositions must be positively acknowledged. Still, the European Semester and Country Specific recommendations don’t focus enough on issues with clear spill-overs on other countries. This Briefing Paper argues for a systematic discussion of a nominal stance at the European level, based on wage and price ...

The economic governance of the European Monetary Union is yearly organized during the so-called European Semester. The improvement of the European Semester is an on-going process, and some recent propositions must be positively acknowledged. Still, the European Semester and Country Specific recommendations don’t focus enough on issues with clear spill-overs on other countries. This Briefing Paper argues for a systematic discussion of a nominal stance at the European level, based on wage and price analysis. It would monitor price and wage developments to avoid nominal and current account divergences or deflationary convergence. Seven suggestions are provided to improve the European Semester and European Economic Governance.

External author

X. Ragot

How to further strengthen the European Semester?

20-11-2017

The emphasis of the European Semester should shift from economic policy coordination – intended as the process through which Member States commit to common rules and recommendations adopted by the Council of the European Union under the surveillance of the European Commission – to a stronger national ownership. Coordination of national policies may be essential at times of crisis, when cross-country spillover effects tend to be large, but it may not be very effective when economic conditions return ...

The emphasis of the European Semester should shift from economic policy coordination – intended as the process through which Member States commit to common rules and recommendations adopted by the Council of the European Union under the surveillance of the European Commission – to a stronger national ownership. Coordination of national policies may be essential at times of crisis, when cross-country spillover effects tend to be large, but it may not be very effective when economic conditions return to normal, as spillovers tend to be small and the incentives for governments to coordinate lessen. Stronger national ownership should lead to better enforcement of commonly agreed rules, regardless of economic conditions and should take away the perception that rules are hierarchically imposed. National ownership could be improved by involving the national fiscal councils and the national productivity boards explicitly in the elaboration of EU? recommendations for national governments. This should be done without increasing the complexity of an already complicated EU governance system of governance or damaging their reputation as independent bodies. Reforms aiming to improve the structural functioning of the EU’s economies are of critical importance for Member States, yet the reasons why specific reforms should be embedded in the Semester are not always clear. Moreover, strengthening the Semester by further linking the EU budget to reforms undertaken in the Member States is fine in theory but very difficult in practice. Reforms cannot be ‘bought’ as such and it would be extremely difficult to measure the implementation of the CSRs precisely enough to make implementation a condition for funds. The role of the Commission should remain predominant in fostering coordination in case of economic crisis and in providing technical support for reforms whenever needed.

External author

C.Alcidi, D.Gros

Social governance in the European Union: Governing complex systems

17-11-2017

Whereas economic governance is now undertaken in the EU through a regulated, 'hard' framework, there is no equivalent framework for social governance. At present, social governance in the EU functions mainly within the 'soft', unregulated realms, although it is also marked by some 'hard' governance mechanisms. This paper aims to give an overview of the social aspects of EU governance. It looks at existing EU social governance mechanisms and tools, including their current state of play, the debates ...

Whereas economic governance is now undertaken in the EU through a regulated, 'hard' framework, there is no equivalent framework for social governance. At present, social governance in the EU functions mainly within the 'soft', unregulated realms, although it is also marked by some 'hard' governance mechanisms. This paper aims to give an overview of the social aspects of EU governance. It looks at existing EU social governance mechanisms and tools, including their current state of play, the debates that surround them and possible avenues for their further development.

Structural Budget Balances in EU Member States

16-11-2017

Structural budget balances play an important role in the fiscal policy frameworks of the EU both as part of the application of the Stability and Growth Pact (SGP) and in the implementation of the balanced budget rule by the contracting parties of the intergovernmental Treaty on Stability, Coordination and Governance in the EMU (the fiscal section of the Treaty is called “Fiscal Compact”). This document provides a short overview of the concept and application of the structural balance rule(s) in ...

Structural budget balances play an important role in the fiscal policy frameworks of the EU both as part of the application of the Stability and Growth Pact (SGP) and in the implementation of the balanced budget rule by the contracting parties of the intergovernmental Treaty on Stability, Coordination and Governance in the EMU (the fiscal section of the Treaty is called “Fiscal Compact”). This document provides a short overview of the concept and application of the structural balance rule(s) in the EU. It will be regularly updated, in particular, the annex that shows progress made (based on the latest Commission forecast) by Member States in reaching their structural budget commitments under the preventive arm of the SGP. his briefing provides an overview of the role played by independent national fiscal bodies in the preparations of forthcoming budgets in EU Member States.

Member States Progress towards the EU 2020 Targets

14-11-2017

This note prepared by Economic Governance Support Unit gives an overview of the member states progress towards the EU 2020 targets.

This note prepared by Economic Governance Support Unit gives an overview of the member states progress towards the EU 2020 targets.

Selected Euro Area Macroeconomic Indicators

10-11-2017

This table prepared by the Economic Governance Support Unit includes Euro Area key indicators and latest forecasts from the Commission, IMF, ECB and OECD.

This table prepared by the Economic Governance Support Unit includes Euro Area key indicators and latest forecasts from the Commission, IMF, ECB and OECD.

Sovereign Concentration Charges: A New Regime for Banks’ Sovereign Exposures

09-11-2017

Achieving the aim of Europe’s banking union project, to break the vicious circle between banks and sovereigns, requires new policy initiatives. The most direct bank-sovereign linkages are national deposit insurance and concentrated domestic sovereign exposures. Thus, simultaneously with a European Deposit Insurance Scheme (EDIS) as proposed by the European Commission in 2015, the European Union should introduce regulatory disincentives against highly concentrated sovereign exposures of euro area ...

Achieving the aim of Europe’s banking union project, to break the vicious circle between banks and sovereigns, requires new policy initiatives. The most direct bank-sovereign linkages are national deposit insurance and concentrated domestic sovereign exposures. Thus, simultaneously with a European Deposit Insurance Scheme (EDIS) as proposed by the European Commission in 2015, the European Union should introduce regulatory disincentives against highly concentrated sovereign exposures of euro area banks. This paper makes a concrete proposal for a Sovereign Concentration Charges Regulation (SCCR), including calibration and careful transitional arrangements to avoid any disorderly market impact. The SCCR and EDIS together could realistically receive political approval in 2018 and be fully implemented within a decade.

External author

N.Veron, Bruegel

History of economic and monetary union

01-11-2017

Economic and monetary union (EMU) is the result of progressive economic integration in the EU. It is an expansion of the EU single market, with common product regulations and free movement of goods, capital, labour and services. A common currency, the euro, has been introduced in the eurozone, which currently comprises 19 EU Member States. All 28 EU Member States — with the exception of the UK and Denmark — must adopt the euro after a minimum of two years’ participation in ERM II and fulfilment of ...

Economic and monetary union (EMU) is the result of progressive economic integration in the EU. It is an expansion of the EU single market, with common product regulations and free movement of goods, capital, labour and services. A common currency, the euro, has been introduced in the eurozone, which currently comprises 19 EU Member States. All 28 EU Member States — with the exception of the UK and Denmark — must adopt the euro after a minimum of two years’ participation in ERM II and fulfilment of the convergence criteria. A single monetary policy is set by the European Central Bank (ECB) and is complemented by harmonised fiscal and coordinated economic policies. Within EMU there is no single institution responsible for economic policy. Instead, the responsibility is divided between Member States and various EU institutions.

Outlook for the European Council meeting on 19-20 October 2017 and the European Council (Article 50) meeting on 20 October 2017

27-10-2017

At their meeting on 19-20 October 2017, EU leaders will focus on migration, in particular assessing the progress made in stemming illegal flows on all migration routes, and digital Europe, following up on the Digital Summit held in Tallinn on 29 September. Heads of State or Government will also discuss defence, in particular the preparations for permanent structured cooperation (PESCO) as well as external relations, including relations with Turkey. The President of the European Council, Donald Tusk ...

At their meeting on 19-20 October 2017, EU leaders will focus on migration, in particular assessing the progress made in stemming illegal flows on all migration routes, and digital Europe, following up on the Digital Summit held in Tallinn on 29 September. Heads of State or Government will also discuss defence, in particular the preparations for permanent structured cooperation (PESCO) as well as external relations, including relations with Turkey. The President of the European Council, Donald Tusk, is expected to present the new 'Leaders' Agenda 2017-2018', outlining the decisions that need to be taken at the level of the European Council in the coming year. Finally, EU-27 leaders will meet on 20 October in a separate formal European Council (Article 50), without the United Kingdom, to discuss the latest developments in the latter’s withdrawal negotiations. It is expected that the European Council (Article 50) will postpone the decision on starting the second phase of negotiations on the EU's future relations with the UK until the December 2017 European Council, due to insufficient progress having been made to date.

Upcoming events

22-11-2017
Limits and Potential of the Public Health Programme
Workshop -
ENVI
22-11-2017
Fourteen meeting of the IMCO Working Group on the Digital Single Market
Other event -
IMCO
22-11-2017
Hearing on Brexit and the impact on land transport
Hearing -
TRAN

Partners

Stay connected

email update imageEmail updates system

You can follow anyone or anything linked to the Parliament using the email updates system, which sends updates directly to your mailbox. This includes the latest news about MEPs, committees, the news services or the Think Tank.

You can access the system from any page on the Parliament website. To sign up and receive notifications on Think Tank, simply submit your email address, select the subject you are interested in, indicate how often you want to be informed (daily, weekly or monthly) and confirm the registration by clicking on the link that will be emailed to you.

RSS imageRSS feeds

Follow all news and updates from the European Parliament website by making use of our RSS feed.

Please click on the link below to configure your RSS feed.

widget imageRSS widgets

Please click on the button below to add a widget covering publications available via the Think Tank to your website.

Create a RSS widget