Commission presents review of EU economic governance and launches debate on its future
The Commission today presents a review of the effectiveness of the economic surveillance framework and launches a public debate on its future.
The EU framework for economic surveillance has guided Member States in achieving their economic and fiscal policy objectives. It helped attain closer coordination of economic policies, address macroeconomic imbalances, reduce public deficits and debt levels. It created the conditions for sustainable growth and for achieving the Union's strategy for growth and jobs. However, some vulnerabilities remain and the fiscal framework has grown increasingly complex, hampering its buy-in.
Moreover, the EU faces an economic context that has significantly changed since the rules were established.