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Zbyněk Stanjura, Minister of Finance of the Czech Republic, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Czech Presidency (July-December 2022). 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 Czech Presidency priorities in ECON matters, including the Council’s work relating to ...

Almost 30 years ago, the Maastricht Treaty laid the basis for economic and monetary union (EMU). Its fiscal provisions have been further developed by subsequent primary and secondary legislation – in particular, the Stability and Growth Pact with its preventive and corrective arms, and the Treaty on Stability, Coordination and Governance in EMU. These instruments together constitute the fiscal framework of the European Union. In early 2020, the European Commission launched a review of the EU's economic ...

Since 2008, Euro Summits have brought together the Heads of State or Government of those countries whose currency is the euro, providing policy guidance to assure the smooth functioning of Economic and Monetary Union (EMU) and the euro area. Donald Tusk, who chairs the Euro Summit as well as being President of the European Council, has convened a Euro Summit for 15 December 2017. This will be the first such meeting since those dedicated to the Greek crises in 2015.

This paper lays out the different institutional frameworks that govern fiscal policy in the United States and the European Union. It details the resulting differences in fiscal activity through a comparison of the revenues, expenditures, and fiscal balances that we observe at the central and state level in both jurisdictions. The paper tries to provide a factual ‘snap shot’ of these fiscal frameworks in order to distinguish the characteristics of these two institutionally very different economic ...

The European Council Oversight Unit within the European Parliamentary Research Service (EPRS) has undertaken a detailed analysis that seeks to assess how far participating EU Member States have met their commitments within the framework of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG). This intergovernmental treaty was agreed and signed by 25 Heads of State or Government in early 2012 and entered into force on 1 January 2013.  As part of a reformed ...