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Macro-Financial Assistance to EU Member States - State of Play – June 2021

11-06-2021

This document provides regularly updated information on EU Member States which receive or received financial assistance from the ESM, the EFSF, the EFSM, the EU balance of payments assistance facility, other Member States and/or the IMF. Since August 2018 all financial assistance programmes to EU Member States have been concluded; therefore, the document focuses on the implementation of the enhanced surveillance framework for Greece and post-programme reviews for Ireland, Portugal, Romania, Cyprus ...

This document provides regularly updated information on EU Member States which receive or received financial assistance from the ESM, the EFSF, the EFSM, the EU balance of payments assistance facility, other Member States and/or the IMF. Since August 2018 all financial assistance programmes to EU Member States have been concluded; therefore, the document focuses on the implementation of the enhanced surveillance framework for Greece and post-programme reviews for Ireland, Portugal, Romania, Cyprus and Spain undertaken by the European Commission (EC) in liaison with the ECB (Post-Programme Surveillance, PPS), the IMF (Post-Programme Monitoring, PPM, and Article IV assessments) and the ESM (Early Warning System, EWS).

Sustainable Development Goals in EU regions

15-12-2020

The Sustainable Development Goals were established in 2015 as part of the United Nations (UN) 2030 Agenda for Sustainable Development. The signatories adopted a policy framework with 17 goals, addressing such issues as poverty, hunger, health and wellbeing, education, gender equality, environment and climate, strong institutions, peace and justice. Sustainable development aims at balancing social, economic and environmental aspects, seeing them as interconnected. The European Union (EU) has contributed ...

The Sustainable Development Goals were established in 2015 as part of the United Nations (UN) 2030 Agenda for Sustainable Development. The signatories adopted a policy framework with 17 goals, addressing such issues as poverty, hunger, health and wellbeing, education, gender equality, environment and climate, strong institutions, peace and justice. Sustainable development aims at balancing social, economic and environmental aspects, seeing them as interconnected. The European Union (EU) has contributed to creating the Sustainable Development Goals (SDGs) and takes action to implement them. It has committed to deliver on the 2030 Agenda through its internal and external policies, as outlined in the 'Towards a Sustainable Europe by 2030' reflection paper, the European Green Deal, the European Commission's political priorities and its work programme. EU Member States prepare Voluntary National Reviews, in line with UN guidelines. Eurostat publishes annual monitoring reports showing EU progress on implementing the goals through a set of indicators adapted to the European context. Since 2019, the SDGs are included in the European Semester. The Sustainable Development Goals also have a regional dimension, sometimes called 'localisation'. Achieving around 65 % of the targets is estimated to require local and regional authority participation. Numerous regions and cities, including in the EU, have expressed support for the SDGs and many have integrated them in their policy frameworks. Efforts to localise the SDGs are ongoing and regional achievements are featured in the national reviews presented at international conferences. Monitoring SDGs at the regional level can thus help support the overall implementation of the SDGs, reinforce national efforts, support regional development strategies, and provide a broader picture of within-country trends. The European Parliament has expressed its support for an EU sustainable development strategy and enhanced involvement of regional, local and civil society stakeholders in SDG implementation.

When and How to Deactivate the SGP General Escape Clause?

11-12-2020

Based on a brief assessment of the current EU fiscal framework, the paper discusses when and how fiscal surveillance should be enacted again, and investigates possible options for reform. The general escape clause should be lifted as soon as epidemiological conditions allow for economic activity to normalise, probably by 2022. We propose a transitory arrangement if the discussion on a broader reform of the fiscal framework remains inconclusive while the general escape clause is in force.

Based on a brief assessment of the current EU fiscal framework, the paper discusses when and how fiscal surveillance should be enacted again, and investigates possible options for reform. The general escape clause should be lifted as soon as epidemiological conditions allow for economic activity to normalise, probably by 2022. We propose a transitory arrangement if the discussion on a broader reform of the fiscal framework remains inconclusive while the general escape clause is in force.

Externe Autor

Klaus-Jürgen GERN Stefan KOOTHS Ulrich STOLZENBURG

The European Semester during the Pandemic

03-12-2020

Due to the pandemic, the European Semester for economic policy coordination will look rather different (in both form and substance) to what it was in previous cycles. This document provides an overview on how the various policy instruments comprised in the European Semester have been or are being implemented as part of the EU Recovery Plan, notably the interactions with the proposed Recovery and Resilience Facility.

Due to the pandemic, the European Semester for economic policy coordination will look rather different (in both form and substance) to what it was in previous cycles. This document provides an overview on how the various policy instruments comprised in the European Semester have been or are being implemented as part of the EU Recovery Plan, notably the interactions with the proposed Recovery and Resilience Facility.

Economic Dialogue with the European Commission on the 2021 European Semester Cycle

03-12-2020

Vice-President Dombrovskis and Commissioners Schmit and Gentiloni have been invited to an Economic Dialogue to discuss the 2021 European Semester Cycle, in line with the relevant EU law. This briefing note covers the main elements of the 2021 European Semester Package proposed by the Commission. 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 Economic and Monetary Union.

Vice-President Dombrovskis and Commissioners Schmit and Gentiloni have been invited to an Economic Dialogue to discuss the 2021 European Semester Cycle, in line with the relevant EU law. This briefing note covers the main elements of the 2021 European Semester Package proposed by the Commission. 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 Economic and Monetary Union.

When and how to deactivate the SGP general escape clause?

25-11-2020

This paper provides a framework for considering when and how to deactivate the general escape clause of the Stability and Growth Pact (SGP). That framework takes into account the goals of the SGP, the desire to avoid pro-cyclical policy influences that might stifle Europe’s economic recovery, and the necessity not to endanger fiscal sustainability in the medium term. The framework also considers the variation in performance across countries and the indicators that might be used to map transitional ...

This paper provides a framework for considering when and how to deactivate the general escape clause of the Stability and Growth Pact (SGP). That framework takes into account the goals of the SGP, the desire to avoid pro-cyclical policy influences that might stifle Europe’s economic recovery, and the necessity not to endanger fiscal sustainability in the medium term. The framework also considers the variation in performance across countries and the indicators that might be used to map transitional arrangements.

Externe Autor

Erik JONES