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This document provides an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact on the basis of the latest Commission and Council decisions and recommendations in the framework of the Stability and Growth Pact and the latest European Commission economic forecasts. It also includes a section on the on-going review of the EU fiscal framework. This document is regularly updated.

In 2023, the EU celebrates the 30th anniversary of the single market. Recent shocks have shown not only how vulnerable to crises the single market is, but also the extent to which the EU economy relies on a well-functioning single market. It is now considered to be a key driver of EU resilience. In September 2022, the Commission put forward a single market emergency instrument (SMEI) package. It includes one main proposal for a regulation establishing a SMEI, and two accompanying proposals amending ...

The environmental impact of Russia's war on Ukraine has been rapidly growing with every month of full-fledged invasion. The destruction of the Kakhovka Dam further increased the harm inflicted on nature, while bringing international attention to the environmental dimension of the war. Together with its international partners, Ukraine is now looking into the legal options to hold Russia accountable for the environmental damage it has caused, which many refer to as 'ecocide'. However, the potential ...

Executive Vice-President Dombrovskis and Commissioner Gentiloni are invited to the eleventh Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility (RRF) Regulation. Section 1 of this briefing covers recent developments relating to the implementation of RRF, in particular the European Semester assessment of the general RRF implementation progress, the status quo of new REPowerEU chapters, requests for additional loans, and the mid-term evaluation of the RRF. Section ...

During the July plenary session, the European Parliament is expected to discuss the final report of its Special Committee on the COVID-19 pandemic, and vote on a series of recommendations to improve EU preparedness for future health emergencies.

Next Generation EU (NGEU) is the unprecedented instrument created by the European Union (EU) to help Member States recover from the socio-economic impact of the COVID 19 crisis, while also addressing structural challenges such as the green and digital transition. Its main spending tool is the €723.8 billion Recovery and Resilience Facility (RRF) that finances ambitious packages of reform and investment measures agreed in the Member States' national recovery and resilience plans (NRRPs). Given the ...

High inflation negatively affects firms and households in a variety of ways, including by eroding real incomes and by widening inequality. Central banks responded by tightening monetary policy stances significantly. This has naturally constrained demand through rising borrowing costs and smaller credit flows to the real economy. The negative impact on economic activity and growth is a standard feature of tightening, yet it deserve to be closely monitored. Four papers were prepared by the ECON Committee ...

The UK Withdrawal Negotiations raised awareness about the positive effects of European integration on regional development and cross-border cooperation in Ireland – and their vulnerability to Brexit. This At a glance note summarises the report explaining and evidencing the impact of Brexit – anticipated, actual and potential – in this unique case study. Its focus is on non-trade related matters, including administrative, environmental and cultural, particularly as managed at local and regional levels ...

In 2022, Europe has seen a sudden, huge influx of refugees fleeing the war in Ukraine. This At a glance note summarises study assessing the use of Cohesion Policy funds to finance actions to support those refugees in EU host countries. It pays particular attention to the Cohesion’s Action for Refugees in Europe (CARE), and how the flexibility mechanisms it introduced have been taken up by the Managing Authorities of Cohesion Policy programmes. The study concludes with policy recommendations in view ...

Russia's war on Ukraine has changed geopolitical realities on the continent. Since the war began, Moldova has been granted EU candidate country status. It will also host the second European Political Community summit on 1 June 2023. President Maia Sandu – supported by the country's government, led by Dorin Recean – has put forward a modernisation agenda for the country despite difficult economic and geopolitical circumstances.