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The European Commission adopted the proposal on the establishment of the Reform Support Programme on 31 May 2018, as part of the package for the upcoming multiannual financial framework for 2021-2027. The programme will provide financial and technical support for Member States to implement reforms aimed at increasing the resilience of their economies and modernising them, including priority reforms identified in the European Semester. The overall budget for the programme is €25 billion. It comprises ...

Reform Support Programme

Briefing 23-10-2018

Among the legislative proposals for the spending programmes of the MFF 2021-2027, the European Commission has proposed to establish a Reform Support Programme for structural reforms. The IA accompanying the proposal provides a good review of the baseline scenario, the problem to tackle and the objectives to achieve. However, it concentrates on the expected positive effects of the programme, rather than assessing thoroughly the impacts of alternative options against the baseline scenario like a standard ...

Adopting the single currency is the third stage of Economic and Monetary Union (EMU). Even though all Member States participate in EMU, not all of them use the euro: the United Kingdom and Denmark have opted out, while Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania and Sweden are yet to adopt it, being formally obliged to do so under the Maastricht Treaty. Before this happens, they need to fulfil the convergence criteria of price stability, soundness and sustainability of public ...

The European Central Bank constitutes together with the national Central Banks the European System of Central Banks: a unique governance system in which the execution of tasks conferred upon the ESCB is divided between the European level (ECB) and the national level (national Central Banks) and which is characterised by the principle of decentralisation. The EU level decides to which extent the national level is competent for the proper execution of Central Bank’s tasks whilst the main decision-making ...