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Implementation of the Macroeconomic Imbalance Procedure: State of play December 2020

06-01-2021

This note presents the EU Member States' situation with respect to the Macroeconomic Imbalance Procedure, taking into account recent assessments and decisions by the European Commission and the Council. It also gives an overview of relevant comments on the MIP published by EU institutions. A separate EGOV note describes the MIP procedure. This document is regularly updated.

This note presents the EU Member States' situation with respect to the Macroeconomic Imbalance Procedure, taking into account recent assessments and decisions by the European Commission and the Council. It also gives an overview of relevant comments on the MIP published by EU institutions. A separate EGOV note describes the MIP procedure. This document is regularly updated.

The proposed amendments to the Treaty establishing the European Stability Mechanism

09-12-2020

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism (the 2019 ESM reform). The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one. Following discussions around an ESM instrument to deal with the coronavirus outbreak, this paper also addresses the agreement reached at the 9 April 2020 Eurogroup. This note will be updated in light of relevant developments and it complements a ...

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism (the 2019 ESM reform). The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one. Following discussions around an ESM instrument to deal with the coronavirus outbreak, this paper also addresses the agreement reached at the 9 April 2020 Eurogroup. This note will be updated in light of relevant developments and it complements a separate EGOV briefing: The European Stability Mechanism: Main Features, Instruments and Accountability.

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.

Thematic Digest: “The role for the European Semester in the recovery plan”

24-11-2020

At the request of the ECON Committee, four papers were commissioned to external experts on the linkages between the Recovery and Resilience Facility (RRF) and the European Semester (ES), as well as on the role of the European Parliament in the the RRF. In particular, experts were asked to assess whether and how the ES constitutes a suitable governance framework for the recovery measures, notably on: •the identification of the EU priority areas; •the analysis, the adoptions and the monitoring of ...

At the request of the ECON Committee, four papers were commissioned to external experts on the linkages between the Recovery and Resilience Facility (RRF) and the European Semester (ES), as well as on the role of the European Parliament in the the RRF. In particular, experts were asked to assess whether and how the ES constitutes a suitable governance framework for the recovery measures, notably on: •the identification of the EU priority areas; •the analysis, the adoptions and the monitoring of the national recovery plans; and •the performance of the European Parliament (EP) scrutiny and accountability role.

Public finances in Euro Area Member States: Selected indicators - November 2020

18-11-2020

This document presents selected indicators on public finance for the Euro Area Member States and the Euro Area as a whole. For each indicator, it provides a short explanation and the data sources. The final section presents a short overview of the main indicators used by the European and other international institutions to assess debt sustainability.

This document presents selected indicators on public finance for the Euro Area Member States and the Euro Area as a whole. For each indicator, it provides a short explanation and the data sources. The final section presents a short overview of the main indicators used by the European and other international institutions to assess debt sustainability.

Economic Dialogue and Exchange of Views with the President of the Council (ECOFIN)

31-08-2020

Olaf Scholz, Minister of Finance of Germany, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the German Presidency (July-December 2020). 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”. This briefing provides an overview of the German Presidency priorities in ECON matters, including the establishment of the new and temporary ...

Olaf Scholz, Minister of Finance of Germany, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the German Presidency (July-December 2020). 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”. This briefing provides an overview of the German Presidency priorities in ECON matters, including the establishment of the new and temporary EU recovery plan, and the Council’s work relating to the implementation of the European Semester for economic coordination.

The ESM Pandemic Crisis Support

28-08-2020

This paper provides a summary analysis of the European Stability Mechanism Pandemic Crisis Support instrument agreed by the Eurogroup. This instrument allows the ESM to provide financial assistance (either as loans or by purchasing sovereign bonds) to euro area Member States, to be used for recovering costs related to direct and indirect healthcare, cure and prevention due to the COVID- 19 crisis. The paper focuses on the main feature of the instrument, including its eligibility, the financial and ...

This paper provides a summary analysis of the European Stability Mechanism Pandemic Crisis Support instrument agreed by the Eurogroup. This instrument allows the ESM to provide financial assistance (either as loans or by purchasing sovereign bonds) to euro area Member States, to be used for recovering costs related to direct and indirect healthcare, cure and prevention due to the COVID- 19 crisis. The paper focuses on the main feature of the instrument, including its eligibility, the financial and the surveillance aspects.

External Imbalances in the Euro Area - July 2020

16-07-2020

This note provides a short overview of the latest data related to external imbalances in euro area Member States, with specific reference to some indicators included in the scoreboard of the Macroeconomic Imbalances Procedure.

This note provides a short overview of the latest data related to external imbalances in euro area Member States, with specific reference to some indicators included in the scoreboard of the Macroeconomic Imbalances Procedure.

Composition of Public Expenditures in the EU

06-07-2020

This briefing provides an overview of the structure of public expenditures across EU Member States, by delving into their composition according to the classification of the functions of government provided by Eurostat. The overview aims at identifying similarities and differences among EU Members States in 2018 and spotting possible trends of convergence and divergence since 2008. This note is regularly updated.

This briefing provides an overview of the structure of public expenditures across EU Member States, by delving into their composition according to the classification of the functions of government provided by Eurostat. The overview aims at identifying similarities and differences among EU Members States in 2018 and spotting possible trends of convergence and divergence since 2008. This note is regularly updated.

Implementation of Country Specific Recommendations under the MIP - July 2020

02-07-2020

This note provides an overview of the implementation rate of Country-Specific Recommendations (CSRs) issued under the Macroeconomic Imbalance Procedure (see a separate EGOV note for details on the MIP procedure). Figures presented in this overview refer only to Member States experiencing macroeconomic imbalances and are based on the implementation assessments performed by the Commission in its annual Country Reports.

This note provides an overview of the implementation rate of Country-Specific Recommendations (CSRs) issued under the Macroeconomic Imbalance Procedure (see a separate EGOV note for details on the MIP procedure). Figures presented in this overview refer only to Member States experiencing macroeconomic imbalances and are based on the implementation assessments performed by the Commission in its annual Country Reports.

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