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EU policies – Delivering for citizens: Economic policy

28-06-2019

In the European Union (EU), although economic policy falls within the remit of each Member State, there is, nevertheless, multilateral coordination of economic policies between individual countries. The global financial crisis and the European sovereign debt crisis put this framework severely to the test. Partly as a result, recovery in the EU was slower than recovery in the United States, and was not achieved equally by all Member States. Furthermore, it has to a large extent been based on accommodative ...

In the European Union (EU), although economic policy falls within the remit of each Member State, there is, nevertheless, multilateral coordination of economic policies between individual countries. The global financial crisis and the European sovereign debt crisis put this framework severely to the test. Partly as a result, recovery in the EU was slower than recovery in the United States, and was not achieved equally by all Member States. Furthermore, it has to a large extent been based on accommodative fiscal and monetary policies that only partly hide underlying signs of fiscal or financial fragility in some countries. To remedy this, the European institutions began a twofold process in 2011: initiatives were taken to strengthen the current framework for economic governance and banking supervision in the euro area while, in parallel, discussions began on possible ways to reduce the economic divergences between Member States, provide incentives for risk reduction and risk-sharing, render the governance process more transparent and ensure democratic accountability. In this latter area, several initiatives – that did not require changes to the EU Treaties – were taken between 2015 and 2017. In summer 2017, discussions on deepening the policy framework for economic and monetary union (EMU) intensified. This process, which was advocated in the Five Presidents' Report (the presidents of the main EU institutions) and should be completed by 2025, is now being considered at Member State level. The current state of play points towards two main policy preferences, dividing Member States into two groups: those that prioritise risk-sharing measures (such as France), and those that argue instead for further risk-reduction initiatives (for example, Germany). This lack of consensus has so far meant that the European Council has not been able to reach a breakthrough. This is an update of an earlier briefing issued in advance of the 2019 European elections.

Euro Area Scrutiny: External expertise on economic governance issues during the 8th Parliamentary term

24-06-2019

This document provides the summaries of all external experts papers published during the 8th parliamentary term (2014-2019) by the Economic Governance Support Unit, aimed at supporting the scrutiny work on the functioning of the Euro Area, especially in view of the bi-annual Economic Dialogues with the President of the Eurogroup.

This document provides the summaries of all external experts papers published during the 8th parliamentary term (2014-2019) by the Economic Governance Support Unit, aimed at supporting the scrutiny work on the functioning of the Euro Area, especially in view of the bi-annual Economic Dialogues with the President of the Eurogroup.

European Social Fund Plus (ESF+) 2021-2027

29-03-2019

In preparation for the upcoming Multiannual Financial Framework for 2021-2027, the European Commission published a proposal for a regulation on the European Social Fund Plus (ESF+) on 30 May 2018. In the same spirit as the current European Social Fund 2014-2020, the ESF+ will provide the main EU financial instrument for improving workers' mobility and employment opportunities and strengthening social cohesion, improving social fairness and increasing competitiveness across Europe for the 2021-2027 ...

In preparation for the upcoming Multiannual Financial Framework for 2021-2027, the European Commission published a proposal for a regulation on the European Social Fund Plus (ESF+) on 30 May 2018. In the same spirit as the current European Social Fund 2014-2020, the ESF+ will provide the main EU financial instrument for improving workers' mobility and employment opportunities and strengthening social cohesion, improving social fairness and increasing competitiveness across Europe for the 2021-2027 period. With a provisional budget of €101.2 billion (current prices), the ESF+ should merge the existing European Social Fund (ESF), the Youth Employment Initiative (YEI), and the Fund for European Aid to the most Deprived (FEAD), the Employment and Social Innovation Programme (EaSI) and the EU Health Programme. The new fund will concentrate its investment in three main areas: education, employment and social inclusion. At the European Parliament, the file was assigned to the Committee on Employment and Social Affairs (EMPL), which adopted its report on 3 December, 2018. On 16 January 2019, the committee’s amendments to increase the funding and make youth and children the main beneficiaries were approved by plenary. No trilogue meetings have taken place, and so Parliament is now due to conclude the first reading during the April I plenary session. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Economic Dialogue and Exchange of Views with the President of the Council (ECOFIN)

18-01-2019

Eugen Orlando TEODOROVICI, Minister of Public Finance, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Romanian Presidency (January - July 2019). According to the Treaty of the Union “Member States shall regard their economic policies as a matter of common concern and shall coordinate them within the Council”. This briefing provides an overview of the Romanian Presidency priorities in ECON matters and the Council work programme on the European ...

Eugen Orlando TEODOROVICI, Minister of Public Finance, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Romanian Presidency (January - July 2019). According to the Treaty of the Union “Member States shall regard their economic policies as a matter of common concern and shall coordinate them within the Council”. This briefing provides an overview of the Romanian Presidency priorities in ECON matters and the Council work programme on the European Semester for economic coordination during spring 2019. Reference is also made to further reading relating to the state-of-play on the implementation of the Stability and Growth Pact and the Macroeconomic Imbalance Procedure under the European Semester.

Recommendations on the economic policy of the euro area under the European Semester - January 2019

17-01-2019

This note presents information on the Eurogroup’s policy actions in relation to the 2018 euro area recommendations and provides an overview of the recommendations addressed to the euro area as a whole under the European Semester for 2019.

This note presents information on the Eurogroup’s policy actions in relation to the 2018 euro area recommendations and provides an overview of the recommendations addressed to the euro area as a whole under the European Semester for 2019.

Economic Dialogue with the European Commission on the 2019 European Semester Cycle

07-12-2018

Vice-President Dombrovskis and Commissioner Moscovici have been invited to an Economic Dialogue and Exchange of Views on the launch of the 2019 European Semester and the Commission opinions on the 2019 Draft Budgetary Plans of the Euro Area Member States, in line with the relevant EU law. This briefing note covers the main elements of the 2019 European Semester Package, proposed by the Commission, and the 2019 Draft Budgetary Plans of the Euro Area Member States, including the specific situation ...

Vice-President Dombrovskis and Commissioner Moscovici have been invited to an Economic Dialogue and Exchange of Views on the launch of the 2019 European Semester and the Commission opinions on the 2019 Draft Budgetary Plans of the Euro Area Member States, in line with the relevant EU law. This briefing note covers the main elements of the 2019 European Semester Package, proposed by the Commission, and the 2019 Draft Budgetary Plans of the Euro Area Member States, including the specific situation of Italy. It gives an overview of the implementation of the previous Semester Cycles and of the on-going work to strengthen the governance and the resilience of EMU.

European Social Fund Plus and European Globalisation Adjustment Fund

08-10-2018

The Commission proposes to establish a European Social Plus (ESF+) by merging different funds and programmes, and a strengthened European Globalisation Adjustment Fund (EGF). These proposals would contribute to implement the European Pillar of Social Rights and enhance social Europe. The impact assessment report (IA) concerning the proposals explains the challenges of funding and the defined objectives of the proposals. In relation to the proposed measures, risks and mitigating measures have also ...

The Commission proposes to establish a European Social Plus (ESF+) by merging different funds and programmes, and a strengthened European Globalisation Adjustment Fund (EGF). These proposals would contribute to implement the European Pillar of Social Rights and enhance social Europe. The impact assessment report (IA) concerning the proposals explains the challenges of funding and the defined objectives of the proposals. In relation to the proposed measures, risks and mitigating measures have also been discussed. It can be noted that the IA essentially concentrates in providing a thorough assessment of the selected measures, rather than discussing possible alternatives and comparing and assessing them. In addition, it would have benefited the analysis, if the link with the specific objectives had been elaborated more, as the description of social impacts is quite limited, and health impacts are not discussed although the Health Programme is merged into the ESF+. It would have been useful to have further explanation on the merger of the Health Programme into the ESF+ and its expected synergy impacts. A more detailed description would have been welcome concerning the results of the targeted stakeholder consultations.

Measuring social progress in EU regions

01-10-2018

The social dimension has long been present on the European Union agenda. Recently, it has gained greater significance, particularly in contexts such as the EU governance framework (the European Semester), and economic and monetary union, as well as the reflection process on the future of the EU. Initiatives to measure the EU's social situation and the social impact of EU policies have produced a number of indicators that complement the assessment of economic performance. These measurements can help ...

The social dimension has long been present on the European Union agenda. Recently, it has gained greater significance, particularly in contexts such as the EU governance framework (the European Semester), and economic and monetary union, as well as the reflection process on the future of the EU. Initiatives to measure the EU's social situation and the social impact of EU policies have produced a number of indicators that complement the assessment of economic performance. These measurements can help present a more comprehensive picture of the state of European societies. The EU regional Social Progress Index provides an overview of aspects including health, access to education, environmental quality, housing, personal rights and inclusion. The 2016 findings give a mixed picture of social progress across EU regions. Generally, Nordic and Dutch regions figure among the top performers, with southern and eastern regions lagging behind. However, the picture becomes more nuanced when specific dimensions of social progress are taken into account. The index also shows that social progress scores do not always correlate with a region's GDP. Improving social progress is also relevant to EU cohesion policy, one of the goals of which is to achieve social, economic and territorial cohesion, while also reducing regional disparities. Regional investments can therefore be geared to support both economic performance and social progress. The role and application of new indicators and indexes in this process is currently being explored with a view to establishing how they can be used in policy to support real change, for instance by monitoring developments, identifying priorities, and evaluating progress. This is an updated edition of a briefing published in November 2017.

The National Productivity Boards

19-09-2018

This document presents some features of the National Productivity Boards (originally proposed as Competitiveness Boards), introduced in the context of the deepening of the Economic and Monetary Union. It also provides some information on the status of implementation of National Productivity Boards in the Euro area Member States.

This document presents some features of the National Productivity Boards (originally proposed as Competitiveness Boards), introduced in the context of the deepening of the Economic and Monetary Union. It also provides some information on the status of implementation of National Productivity Boards in the Euro area Member States.

Research for REGI Committee – Future links between structural reforms and EU cohesion policy

14-09-2018

This study assesses the extent to which the EU’s structural reform agenda could support EU member states in the transition to a new global economic environment in a way that complements Cohesion Policy objectives. It looks at the future links between structural reforms and EU Cohesion Policy in the context of the 2021-2027 Multiannual Financial Framework.

This study assesses the extent to which the EU’s structural reform agenda could support EU member states in the transition to a new global economic environment in a way that complements Cohesion Policy objectives. It looks at the future links between structural reforms and EU Cohesion Policy in the context of the 2021-2027 Multiannual Financial Framework.

Autor externo

Robin HUGUENOT-NOEL, Alison HUNTER, Fabian ZULEEG

Socios

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