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Thematic Digest: “When and how to deactivate the SGP general escape clause?”

03-02-2021

This note presents summaries of four papers on the conditions and timing for the future deactivation of the general escape clause of the Stability and Growth Pact, which is in force since March 2020. The papers, written by external experts, were requested by the ECON Committee of the European Parliament.

This note presents summaries of four papers on the conditions and timing for the future deactivation of the general escape clause of the Stability and Growth Pact, which is in force since March 2020. The papers, written by external experts, were requested by the ECON Committee of the European Parliament.

Key Macroeconomic Indicators in the Euro Area and the United States

18-11-2020

Latest forcest by EC, IMF and OECD.

Latest forcest by EC, IMF and OECD.

Key figures of 2021 Draft Budgetary Plans

16-11-2020

This document compares key figures included in the 2021 Draft Budgetary Plans (DBPs), as submitted by the Euro Area Member States by mid of October 2020, with those of the autumn 2020 forecasts by the European Commission (EC) and the key figures included in the 2020 Stability Programmes (SPs), as submitted by the Euro Area Member States by end of April 2020, with the those of the 2020 spring forecasts by the EC. The DBPs and the SPs are available on the Commission homepage (here: DBPs and SPs ). ...

This document compares key figures included in the 2021 Draft Budgetary Plans (DBPs), as submitted by the Euro Area Member States by mid of October 2020, with those of the autumn 2020 forecasts by the European Commission (EC) and the key figures included in the 2020 Stability Programmes (SPs), as submitted by the Euro Area Member States by end of April 2020, with the those of the 2020 spring forecasts by the EC. The DBPs and the SPs are available on the Commission homepage (here: DBPs and SPs ). The EC is expected to adopt its opinions on the 2021 DBPs by end of November and the Eurogroup is expected to discuss these opinion in mid-December 2020.

Selected Euro Area Macroeconomic Indicators

23-10-2020

This note provides a comparison of some key macroeconomic forecast indicators for the Euro Area as a whole published by the Commission, IMF, ECB and OECD.

This note provides a comparison of some key macroeconomic forecast indicators for the Euro Area as a whole published by the Commission, IMF, ECB and OECD.

Country-specific recommendations: An overview - September 2020

22-09-2020

This note provides an overview of the country-specific recommendations issued annually to EU Member States under the European Semester for economic policy coordination. It presents how these recommendations evolved over time (2012-2020), including from the legal base perspective. Finally, it gives insights on the level of implementation of recommendations issued under the 2012-2019 European Semester cycles. The note is updated on a regular basis.

This note provides an overview of the country-specific recommendations issued annually to EU Member States under the European Semester for economic policy coordination. It presents how these recommendations evolved over time (2012-2020), including from the legal base perspective. Finally, it gives insights on the level of implementation of recommendations issued under the 2012-2019 European Semester cycles. The note is updated on a regular basis.

Implementation of the Stability and Growth Pact - March 2020

03-03-2020

This document provides an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact on the basis of (1) the latest Council decisions and recommendations in the framework of the Stability and Growth Pact; (2) the latest European Commission economic forecasts; and (3) the latest European Commission opinions on the Draft Budgetary Plans of euro area Member States. This document is regularly updated.

This document provides an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact on the basis of (1) the latest Council decisions and recommendations in the framework of the Stability and Growth Pact; (2) the latest European Commission economic forecasts; and (3) the latest European Commission opinions on the Draft Budgetary Plans of euro area Member States. This document is regularly updated.

Macroeconomic Imbalances Procedure: has it worked in practice to improve the resilience of the euro area?

24-02-2020

The main aim of the paper is to assess the contribution of the Macroeconomic Imbalance Procedure (MIP) to its original objectives. It analyses whether the European Union and the Euro Area are today better equipped to identify and prevent unsustainable macroeconomic developments in the future. It provides an overview of how the MIP has worked in practice. It presents some stylised trends in macro variables and how the procedure tracks them. It provides a counterfactual exercise on how the procedure ...

The main aim of the paper is to assess the contribution of the Macroeconomic Imbalance Procedure (MIP) to its original objectives. It analyses whether the European Union and the Euro Area are today better equipped to identify and prevent unsustainable macroeconomic developments in the future. It provides an overview of how the MIP has worked in practice. It presents some stylised trends in macro variables and how the procedure tracks them. It provides a counterfactual exercise on how the procedure would have helped to address the underlying problems in those Member States that required financial assistance during the financial and economic crisis. The main policy recommendations of the study are that some re-tooling of the MIP is necessary and that increasing its ownership at the national level is essential.

Külső szerző

Lorenzo CODOGNO

Economic Dialogue with the Commission on the 2020 Draft Budgetary Plans

23-01-2020

Vice-president Dombrovskis and Commissioner Gentiloni have been invited to an Economic Dialogue on the European Commission Opinions on the 2020 Draft Budgetary Plans of the Euro Area Member States. The Dialogue is based on Articles 7 and 15 of EU Regulation 473/2013.

Vice-president Dombrovskis and Commissioner Gentiloni have been invited to an Economic Dialogue on the European Commission Opinions on the 2020 Draft Budgetary Plans of the Euro Area Member States. The Dialogue is based on Articles 7 and 15 of EU Regulation 473/2013.

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.

Economic Dialogue with the Other EU Institutions under the European Semester Cycles, January 2019

03-10-2019

This document provides an overview of Economic Dialogues with the other institutions of the European Union that has taken place in the competent Committee of the European Parliament from January 2014 until January 2019 under the European Semester Cycles. It also includes an overview of the respective legal bases for these dialogues.

This document provides an overview of Economic Dialogues with the other institutions of the European Union that has taken place in the competent Committee of the European Parliament from January 2014 until January 2019 under the European Semester Cycles. It also includes an overview of the respective legal bases for these dialogues.

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