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Potential Output Estimates and their Role in the EU Fiscal Policy Surveillance

11-02-2020

The surveillance of fiscal policies of EU Members States makes extensive use of estimates of the potential output and related concepts, including output gap and structural balance. This note provides an overview of these concepts, of their use and of the main issues related to them .

The surveillance of fiscal policies of EU Members States makes extensive use of estimates of the potential output and related concepts, including output gap and structural balance. This note provides an overview of these concepts, of their use and of the main issues related to them .

What do we know about the BICC today?

05-02-2020

The budgetary instrument for convergence and competitiveness is part of the Eurogroup December 2018 “comprehensive plan to strengthen the Euro’’. This note presents its main features, as known on the basis of public sources, and discusses the steps leading to the Eurogroup agreement of October 2019. It addresses its connection with the European Semester and the more general framework of economic policy coordination. This note will be updated on the basis of further available information.

The budgetary instrument for convergence and competitiveness is part of the Eurogroup December 2018 “comprehensive plan to strengthen the Euro’’. This note presents its main features, as known on the basis of public sources, and discusses the steps leading to the Eurogroup agreement of October 2019. It addresses its connection with the European Semester and the more general framework of economic policy coordination. This note will be updated on the basis of further available information.

Recommendations on the economic policy of the euro area under the European Semester - January 2020

24-01-2020

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. It also looks at the Commission proposal for the 2020 euro area recommendation. In addition, the note provides an institutional ...

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. It also looks at the Commission proposal for the 2020 euro area recommendation. In addition, the note provides an institutional perspective of the euro area recommendations, in particular the process setting the 2019 euro area recommendations and the timeline for adoption of the 2020 euro area recommendation and includes broad comparisons to earlier recommendations, to illustrate how policy concerns have evolved over time. This note is regularly updated.

Economic Dialogue with the European Commission on the 2020 European Semester Cycle

23-01-2020

Vice-President Dombrovskis and Commissioners Schmit and Gentiloni have been invited to an Economic Dialogue on the launch of the 2020 European Semester, in line with the relevant EU law. This briefing note covers the main elements of the 2020 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. Further information is available ...

Vice-President Dombrovskis and Commissioners Schmit and Gentiloni have been invited to an Economic Dialogue on the launch of the 2020 European Semester, in line with the relevant EU law. This briefing note covers the main elements of the 2020 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. Further information is available in separate briefings on the implementation of the Stability and Growth Pact and on the Commission opinions on the 2020 Draft Budgetary Plans.

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

20-01-2020

Zdravko Marić, Minister of Finance of Croatia, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Croatian Presidency (January-June 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 Croatian Presidency priorities in ECON matters, including the deepening of EMU, and the Council’ ...

Zdravko Marić, Minister of Finance of Croatia, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Croatian Presidency (January-June 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 Croatian Presidency priorities in ECON matters, including the deepening of EMU, and the Council’s work relating to the implementation of the European Semester for economic coordination.

Implementation of the Macroeconomic Imbalance Procedure: State of play - January 2020

16-01-2020

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.

Commitments made at the hearing of Paolo GENTILONI, Commissioner-designate - Economy

22-11-2019

The commissioner-designate, Paolo Gentiloni, appeared before the European Parliament on 03 October 2019 to answer questions from MEPs in the Committees on Economic and Monetary Affairs and on Budgets. During the hearing, he made a number of commitments which are highlighted in this document. These commitments refer to his portfolio, as described in the mission letter sent to him by Ursula von der Leyen, President-elect of the European Commission and include economic and financial affairs, fair and ...

The commissioner-designate, Paolo Gentiloni, appeared before the European Parliament on 03 October 2019 to answer questions from MEPs in the Committees on Economic and Monetary Affairs and on Budgets. During the hearing, he made a number of commitments which are highlighted in this document. These commitments refer to his portfolio, as described in the mission letter sent to him by Ursula von der Leyen, President-elect of the European Commission and include economic and financial affairs, fair and effective taxation and a strong and modern Customs Union.

Economic Dialogue with the President of the Eurogroup - ECON 18 November 2019

14-11-2019

Mário Centeno, has been invited to his first Economic Dialogue for the current legislative term of the European Parliament. The previous dialogue in the ECON Committee took place on 20 November 2018. During the 8th legislative term, 9 Economic Dialogues with the President of the Eurogroup took place in the ECON Committee. This briefing provides an overview of the ongoing work of the Eurogroup as regards Council recommendations to the Euro Area as a whole, public finances, macro-economic imbalances ...

Mário Centeno, has been invited to his first Economic Dialogue for the current legislative term of the European Parliament. The previous dialogue in the ECON Committee took place on 20 November 2018. During the 8th legislative term, 9 Economic Dialogues with the President of the Eurogroup took place in the ECON Committee. This briefing provides an overview of the ongoing work of the Eurogroup as regards Council recommendations to the Euro Area as a whole, public finances, macro-economic imbalances, ex-post surveillance and the banking union.

The advisory European Fiscal Board

13-11-2019

This note provides an overview of the main features and recent developments regarding the advisory European Fiscal Board. This body was established by the European Commission in October 2015, in the context of the implementation of an “integrated framework for sound fiscal policies”, proposed in the Five Presidents' Report of June 2015. The Annex presents excerpts from the latest Annual Reports published by the board.

This note provides an overview of the main features and recent developments regarding the advisory European Fiscal Board. This body was established by the European Commission in October 2015, in the context of the implementation of an “integrated framework for sound fiscal policies”, proposed in the Five Presidents' Report of June 2015. The Annex presents excerpts from the latest Annual Reports published by the board.

External Imbalaces in the Euro Area - November 2019

12-11-2019

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.

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