Draft scoreboard for the surveillance of macroeconomic imbalances

22.11.2011

Question for oral answer O-000306/2011
to the Commission
Rule 115
Sharon Bowles
on behalf of the Committee on Economic and Monetary Affairs

1. How does the Commission intend to implement the scoreboard as part of the agreed regulation on the prevention and correction of macroeconomic imbalances? In particular, how does it intend to implement as part of the annual alert mechanism report the assessment of Member States showing large current-account deficits or surpluses?

2. Does the Commission have the technical expertise and sufficient human resources to implement all the steps of the new macroeconomic surveillance framework (i.e. alert mechanism report and the economic reading of the report, and in particular the in-depth review and missions) in a vigorous and transparent manner?

3. Taking into account that the alert mechanism report is conceived to be an annual report and the macroeconomic situation in a Member State may nevertheless deteriorate rapidly within a year, how will the Commission ensure that the scoreboard can pick up these kinds of deteriorating developments quickly enough?

4. Can the scoreboard pick up regional macroeconomic imbalances, e.g. real estate prices with significant regional differences?

5. Has the Commission agreed on any operational cooperation mechanism with the European Systemic Risk Board?

6. What measures will the Commission take to make sure it has timely statistics of the highest quality for inclusion in the scoreboard and in its economic reading?

7. Given its wide-ranging socio-economic implications, what procedures does the Commission consider to be most appropriate when reviewing the scoreboard?

Tabled: 22.11.2011

Forwarded: 24.11.2011

Deadline for reply: 1.12.2011