Latest documents

Summary : ECON Committee Meeting on 20 May 2025 The Statistical Dialogue is a regular exchange between the Director-General of Eurostat and the ECON Committee, enabling its Members to engage on key statistical issues related to EU economic governance. It is based on Regulation (EC) No 223/2009, which enshrines principles of professional independence and accountability, and was reinforced by Regulation (EU) 2015/759, introducing a formal obligation for regular appearances before Parliament. This is the first Statistical Dialogue of the 10th parliamentary term..

Authors : MAZZOCCHI Ronny, SABOL MAJA, STIEBER Harald

Summary : This glossary gives an overview of the definitions of performance, mainstreaming and conditionality. This glossary puts forward general definitions consistent with the way these concepts are used in the EU context while remaining, to the extent possible, consistent with commonly accepted notions found in grey and academic literature, as well as within international organisations such as the OECD and the UN. As a complement to these generic definitions, a forthcoming second part of this glossary will provide additional background elements based on a literature review that will provide a short history of the concepts, discuss eventual divergences in the way they are interpreted and provide illustrations on how these concepts are used in practice in EU policymaking.

Authors : PADILLA OLIVARES Francisco Javier, POUWELS Alexandra Cynthia Jana

Summary : This study examines the implications of future enlargements for the next MFF. It reviews adjustments made to the EU budget during past enlargements and estimates the budgetary costs of the accession of all current candidate and potential candidate countries (excluding Türkiye) under three alternative scenarios which distinguish between the number of enlargement countries and the timing of enlargement. It then provides policy recommendations for adapting the next MFF to enlargement. The study was prepared at the request of the Committee on Budgets.

Summary : Since the entry into force of the Lisbon Treaty (2009), the EU national parliaments have had the right to control the principle of subsidiarity through the Early Warning System (EWS). This study, commissioned by the European Parliament’s Policy Department for Justice, Civil Liberties and Institutional Affairs at the request of the AFCO Committee, examines how the EWS has worked over the past 15 years. It also looks into the interaction of Parliament, the European Commission, local and regional entities, the Committee of the Regions, the Court of Justice of the EU and the Council with national parliaments to this end. Moreover, it considers the principle of proportionality and the EU institutions’ relationship with it.

Summary : This briefing provides a summary of the recent economic developments in EU Member States and gives an overview of relevant economic projections forecasted by major EU and international institutions. Annex 1 includes the latest GDP data and forecasts for all EU Member States. Annex 2 provides the latest inflation data and developments.

Authors : SABOL MAJA, LOI GIACOMO, ANTONINI LEONARDO

Summary : The analysis explores the competitiveness of European banks compared to their US counterparts. It highlights structural differences between the two systems, particularly Europe’s reliance on traditional bank intermediation versus US’s market-based model. European banks generally lag in profitability and market valuations, but remain central to credit provision and financial inclusion across the EU. US banks have benefitted from more favourable macroeconomic scenarios. At the same time, recent improvements in European bank’s profitability and efficiency are driven by temporary macro factors, raising concerns about sustainability. The study emphasises the need for regulatory harmonisation, capital market development, and integration to enhance the competitiveness and resilience of Europe’s banking sector. It also stresses the importance of considering both quantitative and qualitative indicators to better capture banks’ contributions to the economy and overall welfare.

Summary : This briefing assesses the economic, financial, and monetary implications of the tariffs announced by the Trump administration for the EU. Starting with an overview of US measures and EU countermeasures, it analyses the impact on the EU economy across sectors and member states, explains monetary policy challenges for the ECB, and discusses strategic options for European policymakers. As the situation evolves rapidly, the assessment provided in this briefing reflects information available as of 29 April 2025, with updates to follow as developments unfold.

Authors : DE LEMOS PEIXOTO SAMUEL, SABOL MAJA, SPITZER Kai Gereon

Summary : This paper provides a summary of all scrutiny activities of the European Parliament related to euro area monetary policy in occasion of the March 2025 Monetary Dialogue with the European Central Bank (ECB). It covers the topics chosen by the competent Committee and related expertise papers provided in advance of the Dialogue, the actual topics addressed during the Dialogue, a brief overview of results from the Monetary Policy Expert Panel Survey, the latest written questions made by Members to the ECB President and European Parliament resolution on the ECB Annual Report 2024. The document is published regularly ahead and after each Monetary Dialogue with the ECB.

Authors : SABOL MAJA, ANTONINI LEONARDO

Summary : The Policy Hub on Better Law-Making hold on 18 February, 2025 focused on challenges to EU law making. The French Senate’s report was presented and perceived as a wake-up call, urging a shift towards effective, accessible law-making in the EU. Academics highlighted issues of excessive legislation, the need for clearer and citizen-centered laws. They emphasized the need for simplifying legal texts, improving democratic scrutiny by the European Parliament, and fostering collaboration with academia. These proceeding are prepared by the European Parliament’s Policy Department for Justice, Civil Liberties and Institutional Affairs for the JURI Committee.

Summary : This study analyses why European banks, despite improved cost efficiency, continue to trade at lower valuations than their United States (US) counterparts. The gap stems from limited growth potential due to market fragmentation and underdeveloped capital markets. To close this competitiveness divide, the study calls for accelerating the Savings and Investment Union (SIU), expanding investment banking capacity, and implementing smart banking regulation and supervision that reinforces market discipline while enabling risk-taking within a stable, integrated European financial system.

Summary : This paper provides an assessment of the EU banks’ competitiveness by using the US as a benchmark and looking at four interconnected dimensions: profitability, stability, ability to supply intermediation services and raise funds, product affordability for customers. Our results show that profitability, while being a key performance indicator in a market economy, does not measure the banks’ contribution to welfare more broadly and may even signal excessive market power.

Summary : This paper reviews a recent data on property markets and real estate-related bank loans in the euro area, looking at prices, mortgages, credit quality measures and some indicators of the costs faced by borrowers. It then takes a closer look at certain origination and monitoring practices adopted by significant institutions, as recently analysed by the ECB, which apparently show some room for improvement. Finally, it addresses property-related exposures held by non-bank financial institutions, with a focus on the main vulnerabilities of real estate investment funds.

Summary : The fact-finding visit to Austria of the PETI Committee is based on petitions 1055/2019, 0827/2020, 1102/2020, 0772/2023 with regard to the wolf population and on petition 0798/2024 on amending the EU Deforestation Regulation.

Authors : VANÝSKOVÁ ZUZANA

Summary : The expanded use of performance-based instruments, notably as used in the Recovery and Resilience Facility, requires adaptation of budgetary control. This study examines how key changes, such as financing not linked to costs and the use of milestones and targets to trigger disbursement alter budgetary control, The study also puts forward recommendations for the CONT committee of the European Parliament to consider in influencing negotiations on the next MFF.

Summary : The European financial system faces significant risks from excessive bank lending to the real estate sector. Historical trends show a strong link between real estate credit booms and banking crises. Current data indicate that real estate loans constitute a substantial share of banks' corporate loan portfolios, with varying risk levels across countries. Key drivers include expansionary ECB policies and regulatory incentives favouring mortgage lending. Strengthening oversight, improving data collection, and adjusting regulations are essential for financial stability.

Summary : InvestEU is the European Union’s flagship investment programme aimed at mobilising public and private financing to support sustainable infrastructure, innovation, SMEs, and social investment across the EU. As of June 2024, it has successfully mobilized around EUR 280 billion in investments using a EUR 26.2 billion guarantee, but faces concerns over guarantee depletion, excessive burdens and lack of transparency. The European Parliament plays a crucial oversight role, particularly in ensuring accountability, verifying impacts, and maintaining scrutiny amid proposed administrative simplifications put forward by the European Commission in its amending proposal of last February. This briefing has been prepared ahead of the ECON-BUDG public hearing scheduled for 23 April 2025.

Authors : DE LEMOS PEIXOTO SAMUEL, MAZZOCCHI Ronny

Summary : This paper outlines the European Union’s institutional framework for defining and executing an active euro exchange rate policy, against the backdrop of a potential policy shift by the United States. It outlines the emerging US debate on linking exchange rate policy with trade and security objectives and provides a background on past currency interventions by US and other central banks such as the Plaza Accord. The final part opens a discussion over the functioning and limits of the EU’s legal framework and division of competences on the euro exchange rate policy, and discusses relevant policy implications.

Authors : RAKIC Drazen, ANTONINI LEONARDO

Summary : This study introduces Members of the European Parliament to the different estimates of the level of error affecting EU expenditure in cohesion policy. It explains how the European Commission calculates the estimated ‘risk at payment’ and ‘risk at closure’, how the European Court of Auditors calculates the ‘estimated level of error’ and how the two methodologies differ. The conclusion provides guidance on interpreting the different estimates.

Summary : This paper examines the role and impact of Official Development Assistance (ODA) on human development outcomes, focusing on health, education and extreme poverty eradication. The aim is to consolidate existing knowledge on how ODA advances internationally agreed targets and to evaluate current trends in European Union (EU) development policy from the perspective of its contribution to human development. The paper finds that the current EU emphasis on resource mobilisation and private sector engagement differs from traditional aid modalities, which have effectively contributed to education and health outcomes, as well as poverty reduction. These traditional modalities should be sustained and expanded to address pending human development targets, particularly in Least Developed Countries. While the Global Gateway might be a good strategy for climate action and infrastructure development, a complementary strategy is required to balance funding and political attention towards poverty eradication, the primary goal of EU development policy, which risks being overshadowed by other aspects of the sustainable development agenda.

Summary : This paper covers possible defence financing and spending options under the European economic governance framework by reviewing the proposal for a ReArm Europe plan floated by the President of the Commission Ursula von der Leyen. The paper also analyses flexibilities under the EU budget, EIB and ESM financing while also assessing potential market challenges and public procurement. This paper has been updated with information from the European Commission's White Paper for European Defence Readiness 2030 and related documents published on 19 March 2025.

Authors : DE LEMOS PEIXOTO SAMUEL, MAZZOCCHI Ronny, SABOL MAJA, LOI GIACOMO, STIEBER Harald

Summary : Executive Vice-President Fitto and Commissioner Dombrovskis are invited to the 18th Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility (RRF) Regulation, scheduled for 31 March 2025. The previous RRD took place on 10 February 2025. For further details on sections 1 and 2 please contact EGOV. For further details on section 3 please contact EGOV and BSU.

Summary : This briefing has been prepared for the public hearing with the Chair of the Single Supervisory Mechanism (SSM), Claudia Buch, scheduled for 27 March 2025 in the ECON Committee. The previous hearing took place on 18 November 2024.

Authors : MAZZOCCHI Ronny, SABOL MAJA, SPITZER Kai Gereon

Summary : Commitments made by Jessika Roswall, Commissioner-designate for Environment, Water Resilience and a Competitive Circular Economy, 2024-2029

Authors : MARTINELLO BARBARA, MAJERCZYK MAGDALENA, NANNUCCI LAPO, POLLUVEER KRISTI

Summary : This note describes the treaty provisions and appointment procedure for ECA members at EU level. In addition, it provides information on the national nomination procedure for the ECA member in Romania and the country’s candidate.

Authors : MILICEVIC Vera

Summary : This briefing contains background materials for the FEMM Committee mission to the sixty-ninth session of the United Nations Commission on the Status of Women, which focuses on the review and appraisal of the implementation of the Beijing Declaration and Platform for Action and the outcomes of the 23rd special session of the General Assembly. The briefing has been prepared by the European Parliament’s Policy Department for Citizens, Equality and Culture at the request of the FEMM Committee.

Authors : GARCIA TAMARA Isabel

Summary : In this paper, we propose and analyse four scenarios of a second Trump administration’s economic policy and its impact on Europe, ranging all the way from moderate tariffs to full trade war, a full multilateral breakdown with the US leaving the IMF down to a more cooperative exchange rate realignment agreement. We assess two trade scenarios quantitatively and outline broader policy shocks and their economic consequences. Our findings highlight significant challenges for the ECB, requiring responses to trade disruptions, financial instability, and potential global economic reordering. We offer specific policy recommendations for the ECB to navigate these uncertainties. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 March 2025.

Summary : This paper presents the aggregated results of a survey conducted among Members of the Monetary Policy Expert Panel (MPEP) ahead of the March 2025 Monetary Dialogue with ECB President Christine Lagarde. The opinions expressed in this document are the sole responsibility of the survey respondents and do not necessarily represent the official position of the European Parliament, the Members of the ECON Committee or the EGOV Unit.

Authors : RAKIC Drazen, MAZZOCCHI Ronny, SABOL MAJA, LOI GIACOMO

Summary : This briefing report evaluates the ECB's monetary policy in a context of declining inflation and stagnant growth. Inflation risks have been averted and, after a period of relatively tight policy in 2024, benchmark comparisons indicate that the current interest rate is consistent with the ECB's mandate. The prevailing economic and inflation outlook supports further rate cuts. However, the high level of economic policy uncertainty necessitates cautious adjustments. Moreover, official ECB communications offer valuable signals regarding future policy steps. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 March 2025.

Summary : Were the US to impose large and lasting tariffs on its imports from the EU, the effect on the euro area (EA) would be substantial and far-reaching. We expect the direct impact to be inflationary in the US and contractionary on EA aggregate demand and output. The indirect impact through an appreciation of the dollar (partly already occurred) tends to transfer inflation from the US to Europe. The ECB should be mindful that both deflationary and inflationary influences may ensue, and be ready to adjust monetary policy promptly if necessary to maintain price stability. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 March 2025.

Summary : In this issue... ● US President Trump starts enacting his economic policy agenda and threatens the EU with tariffs. ● Headline inflation falls to 2.4% as underlying indicators ease. ● ECB reduces key policy rate by 25 bps. ● The euro continues to strengthen against the dollar amid growing uncertainty on US’s tariffs. ● The Fed keeps rate unchanged among economic uncertainty while challenges to independence arise. ● ECB reckons new US approach to cryptos and CBDCs strengthens the case for a digital euro.

Authors : RAKIC Drazen, SABOL MAJA, LOI GIACOMO, ANTONINI LEONARDO

Summary : This paper examines the impact of US protectionist trade policies on the euro area economy, focusing on macroeconomic and financial repercussions. While direct tariff effects are mitigated by exchange rate adjustments and ECB policies, broader risks arise from global trade disruptions and financial contagion. Increased risk premia on US bonds elevate European financing costs, posing fiscal challenges. We highlight the importance of trade diversification, innovation incentives, and prudent monetary policy to mitigate economic vulnerabilities and sustain long-term growth. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 March 2025.

Summary : The euro area experienced an unprecedented surge of inflation in 2021 and 2022 followed by a decline in 2023 and 2024. The ECB raised policy rates too late. Simple rules would have prescribed an earlier response. The policy easing since summer 2024, however, is quite in line with such rules. This experience provides a number of lessons that could lead to improvements in the policy strategy that is currently under review. The current level of policy rates appears appropriate. However, there are some important upside risks to inflation. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 March 2025.

Authors : HAGELSTAM Kajus, BOLDI DONELLA, DE LEMOS PEIXOTO SAMUEL, RAKIC Drazen, LEHOFER WOLFGANG, SABOL MAJA, LOI GIACOMO, SPITZER Kai Gereon

Summary : In the 2024 European Parliament elections turnout varied significantly across EU Member States, influenced by institutional factors such as compulsory voting and concurrent elections. Socioeconomic disparities persisted; older, higher-educated, and wealthier citizens were more likely to vote, while economically disadvantaged and unemployed individuals participated less. Gender and age gaps in turnout reaffirmed the importance of role models and political efficacy in mobilization. Vote choice reflected both ideological convictions and protest voting, with established pro-EU parties retaining support while Euroskeptic and far-right parties made gains. The elections confirmed the enduring importance of economic redistribution, European integration, and climate policy as key axes of political contestation. While high-quality representation fosters legitimacy and political engagement, turnout and ideological representation disparities highlight ongoing challenges for democratic inclusivity in the EU. Key recommendations for higher quality of representation include: (1) strengthening political efficacy among women; (2) encouraging youth political engagement; (3) balancing age representation in politics; (4) simplifying electoral processes; (5) strengthening social safety nets to sustain political engagement; (6) addressing political disengagement stemming from economic dissatisfaction; (7) enhancing representation for disadvantaged groups; (8) considering candidate age in party strategies; (9) bridging climate policy divides; and (10) leveraging EU defense cooperation for political consensus.

Summary : The European Electoral Act decrees that the Members of the European Parliament shall be elected on the basis of proportional representation, using the list system or the single transferable vote. There is much leeway for a Member State to turn terms like “proportional representation” or “the list system” into executable rules. As a result, Member States differ considerably as to their electoral provisions. The briefing presents an overview of the vote patterns used by the Member States, of the apportionment methods to convert the votes of a domestic electorate into seats for the competing parties, and of the ways in which the seats of a party are assigned to this party's candidates.

Summary : The original full study explores the current and future flexibility needs in the electricity system as well as existing and potential solutions to efficiently integrate renewable energy and facilitate electrification of end-uses. Key findings highlight the importance of flexible electricity generation, demand response and energy storage solutions for daily, weekly, and seasonal flexibility provision. However, challenges persist due to inadequate market rules and regulatory frameworks, and economic issues. The study recommends additional policy measures to enhance system flexibility, complementing ongoing policy initiatives at the EU and national level. The study was provided by the Policy Department for Transformation, Innovation and Health for the Committee on Industry, Research and Energy (ITRE).

Summary : This study explores the current and future flexibility needs in the electricity system as well as existing and potential solutions to efficiently integrate renewable energy and facilitate electrification of end-uses. Key findings highlight the importance of flexible electricity generation, demand response and energy storage solutions for daily, weekly, and seasonal flexibility provision. However, challenges persist due to inadequate market rules and regulatory frameworks, and economic issues. The study recommends additional policy measures to enhance system flexibility, complementing ongoing policy initiatives at the EU and national level. This document was provided by the Policy Department for Transformation, Innovation and Health for the Committee on Industry, Research and Energy (ITRE).

Summary : ATAG to the study - Using an own, newly elaborated functional definition of mobility poverty, this study first estimates mobility poverty in the nine EU outermost regions and assesses its effects on their transport and tourism sectors. It then reviews the Fit for 55 transport-related legislation and analyses its implications for these remote territories. It also outlines the main EU, national and regional measures tackling the adverse effects of both mobility poverty and the new climate legislation, and finally concludes with policy recommendations.

Summary : This research study provides an overview of other revenue and its current and potential future relevance in the EU revenue system. After setting out the conceptual foundations and important definitions related to other revenue, the study maps the different categories of other revenue and presents their development over time. Finally, the study discusses several options to strengthen the role of other revenue, considering both existing and potential new other revenue sources. This study was provided at the request of the BUDG Committee.

Authors : SCHWARCZ András

Summary : The study investigates how Cohesion Policy responds to emerging and existing demographic and socio-economic challenges. Following an overview of the main socio-economic challenges, it provides an assessment of Cohesion Policy strengths and weaknesses in tackling these challenges in the 2014-2020 and 2021-2027 periods. It then considers the policy implications for future Cohesion Policy and the role of the European Parliament. The study is based on a review of the relevant literature and data, stakeholders’ interviews and five regional case studies.

Summary : Using an own, newly elaborated functional definition of mobility poverty, this study first estimates mobility poverty in the nine EU outermost regions and assesses its effects on their transport and tourism sectors. It then reviews the Fit for 55 transport-related legislation and analyses its implications for these remote territories. It also outlines the main EU, national and regional measures tackling the adverse effects of both mobility poverty and the new climate legislation, and finally concludes with policy recommendations.

Summary : The study investigates how Cohesion Policy responds to emerging and existing demographic and socio-economic challenges. Following an overview of the main socio-economic challenges, it provides an assessment of Cohesion Policy strengths and weaknesses in tackling these challenges in the 2014-2020 and 2021-2027 periods. It then considers the policy implications for future Cohesion Policy and the role of the European Parliament. The study is based on a review of the relevant literature and data, stakeholders’ interviews and five regional case studies.

Summary : This briefing was commissioned by the European Parliament's Policy Department for Citizens, Equality, and Culture at the request of the Committee on Women's Rights and Gender Equality ahead of the Interparliamentary Committee Meeting on the occasion of the International Women's Day. The briefing gives an overview of the Women and Peace and Security Agenda and the current situation at global and European Union level. It examines women’s participation as active agents in the prevention and resolution of conflicts, peace negotiations, peace building, peacekeeping, humanitarian response, and post-conflict reconstruction. It also offers a brief outline of the role of international humanitarian and human rights law in the protection of women and their rights.

Authors : SANDU Georgiana, AMBROSIO ILENIA

Summary : This briefing has been prepared for the public hearing with the Chair of the Single Resolution Board (SRB), Dominique Laboureix on 3 March 2025. This briefing addresses: • A critical review of the SRB’s 2025 Work Programme • Regular reporting on MREL (Q3 2024) • Updated Operational Guidance on OCIR • Consultations and Requests to Industry for 2025 • Single Resolution Fund (SRF) continues to be at the target level • Gauging the impact of the CMDI reform.

Authors : SABOL MAJA, SPITZER Kai Gereon

Summary : These proceedings cover the Policy Hub on Better Law-Making in the European Union held on December 4, 2024. During the hub European academics indicated that European legislation is no longer fit for purpose and urgently needs modernisation. The experts recommended simplification of the structure and the drafting style of European legislation, citizen-centred approach to EU legislation, along with improving evidence base and digitisation. These proceedings are prepared by Policy Department for Justice, Civil Liberties and Institutional Affairs for the JURI Committee.

Summary : The implementation timetable for cohesion policy is defined largely by its legislative framework. In order to be able to plan parliamentary work and exercise systematic scrutiny of policy implementation and of the Commission’s work, it is essential to have an overview of the timing of different steps in policy implementation in the coming years. This type of briefing was first published (and subsequently updated) in 2014 covering the 2014-2020 programming period. This version includes the policy actions of the 2021-27 period, while still indicating the last steps of the 2014-20 period. It includes a detailed (but non-exhaustive) timetable of policy actions in 2025, together with an overview of major actions for the remainder of the programming period, from 2026. Given its contribution to cohesion in the European Union, policy actions under the Recovery and Resilience Facility are now included in the calendar

Authors : HAASE Diana, BORKA ADRIENN

Summary : ECON on 19 February 2025 - Paschal Donohoe is attending his seventh Economic Dialogue in the ECON Committee since being elected as President of the Eurogroup in July 2020 and the first one during the 10th parliamentary term. His previous Economic Dialogue took place on 29 June 2023. This briefing covers the following issues: latest economic developments (Section 1); the 2025 Euro Area Recommendation (Section 2); Transparency of the work of the Eurogroup (Section 3) and Completing the EMU, with a focus on the Eurogroup’s work on the Banking Union, the Capital Markets Uniona and the digital euro (Section 4). For an overview of the role of the President of the Eurogroup, see Briefing: The role (and accountability) of the President of the Eurogroup.

Authors : SABOL MAJA, LOI GIACOMO, SPITZER Kai Gereon, SANGERS BO, ROKOS CASTILLO ALVARO CARL-PHILLIP

Summary : Andrzej Domański, Minister of Finance of Poland, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Polish Presidency January - June 2025). In accordance with 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”.

Authors : DE LEMOS PEIXOTO SAMUEL, SABOL MAJA, LOI GIACOMO, SPITZER Kai Gereon, STIEBER Harald

Summary : This briefing paper provides an overview of the role and mandate of the Eurogroup and the role and accountability of its President, including the procedures for his/her appointment. This paper includes the following sections: 1) The role of the Permanent President of the Eurogroup; 2) The President of Eurogroup and the European Parliament; 3) The role and mandate of the Eurogroup; and 4) Eurogroup transparency. The paper will be regularly updated.

Authors : HAGELSTAM Kajus, LOI GIACOMO

Summary : This in-depth analysis reviews the Debt Sustainability Analysis (DSA) that guides the implementation of the new Economic Governance Framework. It evaluates the adequacy of the methodology, with a focus on the changes introduced in the DSA to make it fit for the multi-annual character of the framework. While the DSA is not far from the state-of-art, the way the framework handles uncertainty is suboptimal. The study notes a few other areas where the analysis could be improved, namely potential output and structural primary balance estimation, sovereign borrowing strategies, and fiscal multipliers. The study also discusses whether the framework is sufficiently transparent, and presents venues through which the European Parliament can foster a transparent debate about the methodology underpinning the DSA exercise.

Summary : The Commission’s implementing decision under Article 25(6) EMIR extends for three further years the current equivalence decision regarding the UK (i.e. to consider the regulatory framework applicable to central counterparties in the UK equivalent to the one applicable in the Union). The currently applicable equivalence decision is due to expire on 30 June 2025. The extension could disincentivise efforts to reduce excessive exposures to clearing services of substantial systemic importance provided by CCPs outside the Union, delaying the effective implementation of the active account requirement.

Authors : HONNEFELDER Stephanie, MURA CLAUDIO, CHAILLET GAELLE CHARLOTTE

Summary : This paper presents the latest findings and developments related to the Recovery and Resilience Facility (RRF), with a particular focus on stakeholder assessments of its structure, implementation and the economic impact. It summarises the perspectives of stakeholders at the EU, national, regional, and local levels concerning the National Recovery and Resilience Plans (RRPs). Notably, the paper compiles recent opinions and evaluations from EU stakeholders, as well as relevant institutions and bodies, regarding the execution of these plans. The paper is published ahead of the Recovery and Resilience Dialogue and complements the RRD briefing.

Authors : LEHOFER WOLFGANG, SANGERS BO, ROKOS CASTILLO ALVARO CARL-PHILLIP

Summary : This paper examines the trade aspects of the Strategic Dialogue on the future of EU agriculture and its impact on the competitiveness and sustainability of European agriculture. It highlights the dual role of trade as both a challenge and an opportunity for the EU agricultural sector. On the one hand, trade opens new markets and provides access to essential inputs, thereby increasing productivity and profitability. On the other hand, it introduces competitive pressure and market volatility, requiring constant innovation and efficiency. The paper identifies offensive sectors of EU agriculture, such as alcoholic beverages and cereals, which benefit from trade, and defensive sectors, such as beef and sugar, which are vulnerable to international competition. It also discusses the regulatory divergences faced by EU farmers and the need for a level playing field to ensure fair competition. The paper concludes with recommendations to support farmers, strengthen border controls, promote EU standards globally and reduce import dependency in order to improve the resilience and sustainability of the EU agricultural sector.

Summary : Executive Vice-President Fitto and Commissioner Dombrovskis are invited to the 17th Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility (RRF) Regulation, scheduled for 10 February 2025. The previous RRD took place on 16 September 2024.

Authors : SCHWARCZ András, LEHOFER WOLFGANG, SABOL MAJA, LOI GIACOMO, SANGERS BO

Summary : The original full study examines performance-based budgeting (PB) and mainstreaming, two relatively novel approaches to the governance of public expenditure which have become increasingly used in EU spending programmes. The two approaches have certain common features but differ in focus. To inform debate around the next multi-annual financial framework (MFF), this study assesses how the two have functioned in practice, seeking to identify shortcomings and recommend possible remedies.

Summary : This study examines the evolution and the current status of the implementation of synergies between Horizon Europe and the Cohesion Policy funds for research and innovation activities. It provides insights into the main barriers and drivers for the uptake of these synergies, along with possible pathways forward to achieve greater innovation outcomes. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Industry, Research and Energy (ITRE).

Summary : This study examines the evolution and the current status of the implementation of synergies between Horizon Europe and the Cohesion Policy funds for research and innovation activities. It provides insights into the main barriers and drivers for the uptake of these synergies, along with possible pathways forward to achieve greater innovation outcomes. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Industry, Research and Energy (ITRE).

Summary : The original full study commissioned by the European Parliament's Committee on Budgetary Control, presents an overview of the current anti-fraud architecture of the European Union, describing the composition, roles and responsibilities of the organisations involved, as well as their governance structures and forms of cooperation. The study examines the status quo, identifies potential risks and challenges related to the design and functioning of the architecture which can suggest further actions to improve its effectiveness. It places a particular focus on the role of the European Parliament in this context.

Summary : Professor Dr Xanthaki presented to JURI Committee a critical analysis of the "The 'one in, one out' principle - A real better lawmaking tool?". She concluded that the principle may lead to less (not better) legislation, purely on a arithmetical basis, and recommended to JURI Committee to focus on genuine better law-making tools, including a modernized, citizen-centred drafting structure and style for EU legislation, which she considered not fit for purpose in its current style. This briefing was commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the JURI Committee.

Authors : VANÝSKOVÁ ZUZANA

Summary : This research project by the National Research Institute for Agriculture, Food and the Environment (INRAE) and The Institute for Sustainable Development and International Relations (IDDRI) for the European Parliament provides an analysis of the various parameters that are likely to have an impact on the objectives and content of the next Common Agricultural Policy (CAP) for the 2028-2034 funding period.

Summary : ATAG to the study - This study offers a comprehensive overview of silver tourism in the EU, detailing the sector’s current state and potential growth opportunities. It establishes a conceptual framework that categorises key areas within silver tourism and examines specific challenges and opportunities within each. The study concludes with targeted recommendations to address these challenges.

Summary : This research project is delivered by the National Research Institute for Agriculture, Food and the Environment (INRAE) and The Institute for Sustainable Development and International Relations (IDDRI) for the European Parliament provides an analysis of the various parameters that are likely to have an impact on the objectives and content of the next Common Agricultural Policy (CAP) for the 2028-2034 funding period. This study comes in two volumes. Volume 1 is the study and Volume 2 is the annexe of the study.

Summary : The autumn 2024 (and winter 2025) fiscal surveillance has been marked by the first implementation cycle of the reformed EU economic governance framework. It has included the assessments and the adoption of the first set of national medium-term fiscal-structural plans (see Section 3 and Annex 1 and 2 of this briefing), the assessments of the 2025 Draft Budgetary Plans of euro area Member States (see Section 4), and Council recommendations to bring an end to their excessive deficit situations and two Commission reports assessing compliance with the deficit criterion (See Section 5).

Authors : DE LEMOS PEIXOTO SAMUEL, LOI GIACOMO, SANGERS BO, ROKOS CASTILLO ALVARO CARL-PHILLIP

Summary : Executive Vice-President Mînzatu and Commissioner Dombrovskis have been invited to an Economic Dialogue on the launch of the 2025 European Semester for economic policy coordination, in line with the relevant EU law. This briefing note covers the main elements of the 2025 European Semester Package proposed by the Commission, notably the Macroeconomic Imbalances Procedure, the Joint Employment Report, the Euro Area policy recommendations and on-going work to strengthen the global competitiveness of Europe.

Authors : MARTINEZ GARZON VICTOR MANUEL, LOI GIACOMO, STIEBER Harald

Summary : This study was commissioned by the European Parliament's Policy Department for Citizens, Equality and Culture at the request of the Committee on Petitions (PETI). It updates the study published in 2017, offering information on the key actors responsible for implementing and enforcing EU law. It also examines recent trends in the transposition and application of EU legislation across various policy areas, based on the latest available information. The study outlines the evolution of the EU Enforcement policy highlighting the Commission ‘Smart Enforcement’ approach which focuses on addressing compliance issues proactively before resorting to infringement procedures. The study concludes with recommendations for the EU institutions.

Summary : This study examines the implications of future enlargements for the next MFF. It reviews adjustments made to the EU budget during past enlargements and estimates the budgetary costs of the accession of all current candidate and potential candidate countries (excluding Türkiye) under three alternative scenarios which distinguish between the number of enlargement countries and the timing of enlargement. It then provides policy recommendations for adapting the next MFF to enlargement. The study was prepared at the request of the Committee on Budgets.

Summary : This study offers a comprehensive overview of silver tourism in the EU, detailing the sector’s current state and potential growth opportunities. It establishes a conceptual framework that categorises key areas within silver tourism and examines specific challenges and opportunities within each. The study concludes with targeted recommendations to address these challenges.

Summary : This paper provides a summary of all scrutiny activities of the European Parliament related to euro area monetary policy in advance of the December 2024 Monetary Dialogue with the European Central Bank (ECB). It covers the topics chosen by the competent Committee and related expertise papers provided in advance of the Dialogue, the actual topics addressed during the Dialogue, and latest written questions made by Members to the ECB President. The document is published regularly ahead and after each Monetary Dialogue with the ECB.

Authors : SABOL MAJA, SANGERS BO

Summary : The three reports by Draghi, Letta and Noyer remind policy makers that capital markets channelling savings into investments is key to competitiveness and economic growth. The recommendations of these reports could give new impetus to the long-standing flagship policy of CMU. In this briefing we show how securitisation, supervision, market infrastructure and savings/pensions schemes are identified as priorities in all three reports, however with different conclusions. We also discuss all other CMU recommendations in the reports. The paper has been updated in order to include the commitments made by the new Commission towards Parliament in letters and Committee hearings.

Authors : SABOL MAJA, LOI GIACOMO, SPITZER Kai Gereon

Summary : This study explores the role and enhancement of parliamentary capacities in the European Union (EU) enlargement process, focusing on the EU’s evolving accession methodology and its emphasis on the ‘fundamentals’ approach. It examines the European Commission’s criteria for ‘functioning democratic institutions’ in accession countries and evaluates the effectiveness of support measures from EU institutions, Member States, and international organisations. Based on desk research, mapping, and over 90 expert and stakeholder interviews, the study analyses EU democracy support initiatives for parliaments in 10 enlargement countries, namely Albania, Bosnia and Herzegovina, Georgia, Moldova, Montenegro, North Macedonia, Serbia, Türkiye, Ukraine, and Kosovo. The study highlights best practices and identifies challenges that require increased attention from the European Parliament and the core actors involved in parliamentary capacity-building. While past efforts by the European Parliament, Member States, and international organisations have strengthened parliaments in these countries, ongoing democratic backsliding calls for more coherent and concerted action. The European Parliament and its Democracy Support and Election Coordination Group (DEG) play a crucial role in addressing these challenges.

Summary : Commitments made at the confirmation hearings of the Commissioners-designate 2024-2029

Summary : Commitments made by Wopke Hoekstra, Commissioner-designate for Climate, Net Zero and Clean Growth, 2024-2029

Authors : MAKAY Monika, CIUCCI MATTEO, DEBYSER Ariane, ANGERER Jost, POLLUVEER KRISTI, THOMAS ALIZÉE HELEN, GULIČ NOSAN ENIJA

Summary : This paper discusses issues with using a DSA framework as a fiscal rule anchor. It introduces key concepts to guide the reader's understanding and highlights concerns about numerous assumptions that are inevitable in DSA calculation. The paper highlights structural issues, including asymmetry in how megatrends of aging, environmental change and a changing security and defence needs are incorporated into the framework.

Summary : Performance-based budgeting by focusing on ‘what works’, as opposed to whether money has been properly spent, aims to improve the quality of public spending. This study examines how successful the approach has been in the EU, looking at the multi-annual financial framework and the Recovery and Resilience Facility. The study looks, in particular, at the role of the European Parliament and how it could be enhanced, drawing on lessons from use of the approach in national settings.

Summary : This handbook provides an illustrated overview of the main marine and freshwater species relevant to the EU fisheries and aquaculture sector. For each species, the handbook shows its main biological characteristics, whether it is caught, farmed or both, and by which Member States, along with some significant EU conservation measures. In addition, it indicates the name of the species in Danish, German, Spanish, French, Italian, Dutch, Portuguese and Swedish.

Authors : BREUER Marcus Ernst Gerhard, POPESCU Irina, TWISK DANA DIVERA

Summary : A large share of euro area member states is highly indebted. On average, their debt ratios have experienced a strong and continued upward trend that needs to be reversed. The debt sustainability analysis in the new fiscal rules provides great flexibility to member states but exhibits weaknesses with regard to transparency, robustness and credibility. Stress testing needs to be enhanced and applied to the adjustment period. This document was provided/prepared by the Economic Governance and EMU Scrutiny Unit at the request of the ECON Committee.

Summary : This study, commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the AFCO Committee, considers the legal space for an EU Climate and Energy Union. It assesses the major limits at the EU and national level, as well as the question if (informal) Treaty change is possible and necessary to create the space needed. It also assesses if an individual right to clean energy exists, or can and should be legally construed. It pays special attention to the challenge of funding and the role that the emerging principle of solidarity might play.

Summary : The present study aims to provide an overview of available data at the national and European levels and pinpoint any limitations. The study finds that in different areas available national data are not comparable and makes recommendations to increase their comparability. In other fields, there is a lack of data, and the study proposes methods to collect statistics which help policymakers to design relevant policies in favour of persons with disabilities. This document was provided by the Policy Department for Economic, Scientific, and Quality of Life Policies at the request of the Committee on Employment and Social Affairs.

Summary : The integration of migrants and refugees into the labour market remains a critical challenge for EU countries. This study reviews recent academic research on effective policies to remove the barriers that hinder migrant integration in host countries. The study identifies nine key integration challenges, discusses existing evidence and provides policy implications. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Employment and Social Affairs (EMPL).

Summary : This study reviews the implementation of the European Maritime, Fisheries and Aquaculture Fund (EMFAF) in the Netherlands, as regards the first acquisition of a fishing vessel, the replacement or modernisation of a main or ancillary engine and the increase of gross tonnage to improve safety, working conditions or energy efficiency (Articles 17-19 of the EMFAF Regulation). The study also assesses the future needs of the Dutch fishing fleet and makes proposals for the adjustment of EMFAF for the next budget period.