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Key Macroeconomic Indicators in the Euro Area and the United States

12-11-2019

Latest forcest by EC, IMF and OECD.

Latest forcest by EC, IMF and OECD.

Key Macroeconomic Indicators for Cyprus, Greece, Ireland and Portugal

12-11-2019

This document provides a selection of key indicators in Member States that are or have been subject to a Macroeconomic Adjustment Programme. Greece is still under a programme, while Ireland, Portugal and Cyprus have exited their programmes and are now under so-called post-programme surveillance. For more information on the programmes, please see a separate document on Financial Assistance to EU Member States.

This document provides a selection of key indicators in Member States that are or have been subject to a Macroeconomic Adjustment Programme. Greece is still under a programme, while Ireland, Portugal and Cyprus have exited their programmes and are now under so-called post-programme surveillance. For more information on the programmes, please see a separate document on Financial Assistance to EU Member States.

Country-Specific Recommendations in banking - November 2019

12-11-2019

Financial sector reforms have been flagged by the Commission in its Communication on the 2019 European Semester as the policy area where Member States have made the most progress during last year. This briefing focuses on the banking recommendations addressed by the Council to individual Member States within the framework of the European Semester over the past years (2011-2019). It covers all recommendations targeting individual Member States’ banking sectors from a financial stability perspective ...

Financial sector reforms have been flagged by the Commission in its Communication on the 2019 European Semester as the policy area where Member States have made the most progress during last year. This briefing focuses on the banking recommendations addressed by the Council to individual Member States within the framework of the European Semester over the past years (2011-2019). It covers all recommendations targeting individual Member States’ banking sectors from a financial stability perspective or in respect of the financing of their economies and access to finance. It takes stock of these banking relevant country-specific recommendations issued since 2011, having a closer look at the most recent recommendation iteration, as well as, looks in detail at the main topics addressed and gives an overview of the implementation by Member States as assessed by the Commission. The briefing is regularly updated.

Macro-Financial Assistance to EU Member States - State of Play, November 2019

08-11-2019

This document provides regularly updated information on EU Member States which receive or received financial assistance from the ESM, EFSF, EFSM, the EU balance of payments assistance facility, other Member States and/or the IMF. Against the background that since August 2018 all financial assistance programmes to EU Member States have been concluded, the document focuses now on the implementation of the enhanced surveillance framework for Greece and post-programme reviews (including IMF Article IV ...

This document provides regularly updated information on EU Member States which receive or received financial assistance from the ESM, EFSF, EFSM, the EU balance of payments assistance facility, other Member States and/or the IMF. Against the background that since August 2018 all financial assistance programmes to EU Member States have been concluded, the document focuses now on the implementation of the enhanced surveillance framework for Greece and post-programme reviews (including IMF Article IV assessments) for Ireland, Portugal, Romania and Spain undertaken by the European Commission (EC) in liaison with the ECB (Post-Programme Surveillance, PPS), the IMF (Post-Programme Monitoring, PPM) and the ESM (Early Warning System, EWS).

Public finances in Euro Area Member States: selected indicators - November 2019

08-11-2019

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 gives a short explanation and the employed sources. A final section provides a summary on how the sustainability of public finances is assessed by the European and other international institutions.

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 gives a short explanation and the employed sources. A final section provides a summary on how the sustainability of public finances is assessed by the European and other international institutions.

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.

EU competition policy: Key to a fair single market

30-10-2019

Competition policy has been found to make a positive contribution to the EU's economic growth and the EU has one of the most robust competition policy systems in the world. European competition policy encompasses many fields, not least antitrust measures, merger control and State aid. It is enforced by the European Commission, whose decisions can be contested in the Court of Justice of the European Union. Recent policy developments include the antitrust damages system and the framework empowering ...

Competition policy has been found to make a positive contribution to the EU's economic growth and the EU has one of the most robust competition policy systems in the world. European competition policy encompasses many fields, not least antitrust measures, merger control and State aid. It is enforced by the European Commission, whose decisions can be contested in the Court of Justice of the European Union. Recent policy developments include the antitrust damages system and the framework empowering national competition authorities. Topics discussed in this paper include the role of competition policy in the digital era, merger control, instruments such as the leniency programme, commitments and settlements, and the potential impact of current political developments.

The European Semester for economic policy coordination: A reflection paper

25-10-2019

This paper provides an overview of the current EU economic governance framework, in particular of the so-called EU ‘rules- based’ surveillance framework of national budgetary, economic and social policies. It raises some broad questions on the lessons learned and proposes some reflections for the future. This document was prepared by the Economic Governance Support Unit of the European Parliament and the opinions expressed are the sole responsibility of the authors and do not necessarily represent ...

This paper provides an overview of the current EU economic governance framework, in particular of the so-called EU ‘rules- based’ surveillance framework of national budgetary, economic and social policies. It raises some broad questions on the lessons learned and proposes some reflections for the future. This document was prepared by the Economic Governance Support Unit of the European Parliament and the opinions expressed are the sole responsibility of the authors and do not necessarily represent the official position of the European Parliament.

Payment service providers and the fight against e-commerce VAT fraud

24-10-2019

This briefing analyses the quality of the IA accompanying the Commission’s proposal to transmit payment service providers’ data to the national tax authorities of the EU Member States in order to combat cross-border e-commerce VAT fraud. The IA focuses on the economic impacts, namely the potential recovery of VAT loss by Member States, which is expected to outweigh the costs of the initiative (even though benefits and costs could not be quantified with certainty). Regional divergences are acknowledged ...

This briefing analyses the quality of the IA accompanying the Commission’s proposal to transmit payment service providers’ data to the national tax authorities of the EU Member States in order to combat cross-border e-commerce VAT fraud. The IA focuses on the economic impacts, namely the potential recovery of VAT loss by Member States, which is expected to outweigh the costs of the initiative (even though benefits and costs could not be quantified with certainty). Regional divergences are acknowledged in the IA, but not assessed. The IA also admits that a key assumption, the improved cooperation with third countries, remains uncertain (it could imply counterproductive trade diversion towards extra-EU areas).

Outcome of the European Council of 17-18 October 2019

22-10-2019

After endorsing the revised UK withdrawal agreement, and approving a revised political declaration, in the European Council (Article 50) format, EU Heads of State or Government had to tackle a range of divisive issues at their 17-18 October meeting, including the 2021-2027 Multiannual Financial Framework, enlargement, climate change and Turkey. EU leaders were not able to find common ground on key elements of the MFF, nor to reach consensus on the opening of accession negotiations with Albania and ...

After endorsing the revised UK withdrawal agreement, and approving a revised political declaration, in the European Council (Article 50) format, EU Heads of State or Government had to tackle a range of divisive issues at their 17-18 October meeting, including the 2021-2027 Multiannual Financial Framework, enlargement, climate change and Turkey. EU leaders were not able to find common ground on key elements of the MFF, nor to reach consensus on the opening of accession negotiations with Albania and North Macedonia. On climate, the European Council only reiterated its June 2019 conclusions considering persistent lack of agreement on raising climate targets. With respect to Turkey, EU leaders did not go beyond the Foreign Affairs Council conclusions, either in the area of sanctions or in the area of arms exports control. In the presence of the European Commission President-elect, Ursula von der Leyen, EU leaders also discussed the political priorities of the EU for the coming years and the follow-up to the Strategic Agenda 2019-24.

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