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

13-11-2019

This note looks at the recommendations on the economic policies of the euro area adopted by the Council in 2019, upon proposal of the Commission. Its scope is to assess their follow up, making use of proxies such as on how Eurogroup has integrated euro area recommendations concerns in their “thematic discussions” and its work programmes, as well as Commission’s assessment. In addition, the note provides an institutional perspective of the euro area recommendations, in particular the process setting ...

This note looks at the recommendations on the economic policies of the euro area adopted by the Council in 2019, upon proposal of the Commission. Its scope is to assess their follow up, making use of proxies such as on how Eurogroup has integrated euro area recommendations concerns in their “thematic discussions” and its work programmes, as well as Commission’s assessment. In addition, the note provides an institutional perspective of the euro area recommendations, in particular the process setting the 2019 euro area recommendations and includes broad comparisons to earlier recommendations, to illustrate how policy concerns have evolved over time. This note is regularly updated.

Member States with Excessive Macroeconomic Imbalances

07-11-2019

This note provides an overview of the surveillance of the three Member States that have been assessed as experiencing excessive macroeconomic imbalances in the context of the 2019 European Semester cycle and according to the Macroeconomic Imbalance Procedure (MIP). Separate notes describe the state of play of the MIP implementation and the MIP procedure.

This note provides an overview of the surveillance of the three Member States that have been assessed as experiencing excessive macroeconomic imbalances in the context of the 2019 European Semester cycle and according to the Macroeconomic Imbalance Procedure (MIP). Separate notes describe the state of play of the MIP implementation and the MIP procedure.

Politische Maßnahmen der EU im Interesse der Bürger: Wirtschaftspolitik

28-06-2019

Obgleich die Wirtschaftspolitik in der Europäischen Union (EU) in den Zuständigkeitsbereich der einzelnen Mitgliedstaaten fällt, stimmen diese ihre jeweilige Wirtschaftspolitik auf multilateraler Ebene miteinander ab. Durch die weltweite Finanzkrise und die europäische Staatsschuldenkrise wurde diese Form der Zusammenarbeit auf eine harte Probe gestellt. Dies war mit ein Grund für die im Vergleich zu den USA langsamere und nicht in allen Mitgliedstaaten gleichermaßen erreichte Erholung in der EU. ...

Obgleich die Wirtschaftspolitik in der Europäischen Union (EU) in den Zuständigkeitsbereich der einzelnen Mitgliedstaaten fällt, stimmen diese ihre jeweilige Wirtschaftspolitik auf multilateraler Ebene miteinander ab. Durch die weltweite Finanzkrise und die europäische Staatsschuldenkrise wurde diese Form der Zusammenarbeit auf eine harte Probe gestellt. Dies war mit ein Grund für die im Vergleich zu den USA langsamere und nicht in allen Mitgliedstaaten gleichermaßen erreichte Erholung in der EU. Darüber hinaus basierte die Erholung hauptsächlich auf einer akkommodierenden Fiskal- und Geldpolitik, die die unterschwelligen Anzeichen der fiskalisch bzw. finanziell instabilen Lage in einigen Ländern nur teilweise zu verbergen vermag. Um dieser Situation abzuhelfen, haben die Europäischen Organe 2011 einen zweistufigen Prozess eingeleitet: Es wurden Initiativen ergriffen, um den derzeitigen Rahmen für die wirtschaftspolitische Steuerung und Bankenaufsicht im Euro-Währungsgebiet zu stärken, während gleichzeitig eine Diskussion darüber aufgenommen wurde, wie sich die wirtschaftlichen Unterschiede zwischen den Mitgliedstaaten verringern und Anreize für Risikominderung und Risikoteilung schaffen lassen, wie der Governance-Prozess transparenter gestaltet und die demokratische Rechenschaftspflicht sichergestellt werden kann. Im letztgenannten Bereich wurden zwischen 2015 und 2017 mehrere Initiativen ergriffen, die keine Änderung der EU-Verträge erforderlich machten. Im Sommer 2017 wurden die Gespräche über die Vertiefung des politischen Rahmens für die Wirtschafts- und Währungsunion (WWU) intensiviert. Dieser Prozess, der im Bericht der fünf Präsidenten (der wichtigsten EU-Organe) befürwortet wurde und bis 2025 abgeschlossen sein soll, wird nun von den Mitgliedstaaten geprüft. Nach derzeitigem Sachstand gibt es zwei politische Hauptpräferenzen, wodurch die Mitgliedstaaten in zwei Gruppen geteilt werden: Länder, die den Schwerpunkt auf Maßnahmen zur Risikoteilung legen (wie Frankreich), und Länder, die sich stattdessen für weitere Initiativen zur Risikominderung einsetzen (wie Deutschland). Dieser mangelnde Konsens hat einen Durchbruch im Europäischen Rat bisher verhindert. Dies ist die aktualisierte Fassung eines Briefings, das vor der Wahl zum Europäischen Parlament 2019 veröffentlicht wurde.

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.

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.

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