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Implementation of the Stability and Growth Pact - January 2020

16-01-2020

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.

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.

Economic Dialogues and Exchanges of Views with the Member States under the European Semester Cycles - State-of-Play (October 2019)

03-10-2019

This table provides a regular update on Member States invited for an Economic Dialogue in the competent Committee of the European Parliament and an overview of the respective legal base.

This table provides a regular update on Member States invited for an Economic Dialogue in the competent Committee of the European Parliament and an overview of the respective legal base.

An overview of the Stability and Growth Pact - September 2019

10-09-2019

The Stability and Growth Pact (SGP) is the legal framework (based on primary and secondary EU law) that seeks to ensure sustainable public finances in the interest of the stability of the Economic and Monetary Union (EMU). It consists of two main building blocks: the preventive arm and the corrective arm. Stylised overviews, including on flexibility provisions (endorsed by the Council) within the existing rules of the SGP, are provided in the annexes. The main sources used in this briefing are primary ...

The Stability and Growth Pact (SGP) is the legal framework (based on primary and secondary EU law) that seeks to ensure sustainable public finances in the interest of the stability of the Economic and Monetary Union (EMU). It consists of two main building blocks: the preventive arm and the corrective arm. Stylised overviews, including on flexibility provisions (endorsed by the Council) within the existing rules of the SGP, are provided in the annexes. The main sources used in this briefing are primary Union law (Articles 121 and 126 of the Treaty on the Functioning of the European Union), secondary Union law (the amended Regulations (EC) 1466/97 and 1467/97 as well as the Regulation (EU) No 1173/2011), the Code of Conduction on the implementation of the SGP and the Commission Communication entitled ‘Making the best use of flexibility within the existing rules of the SGP’.

Protecting the EU budget against generalised rule of law deficiencies

23-11-2018

On 3 May 2018 the Commission put forward a proposal for a regulation on the protection of the Union's budget in the event of generalised deficiencies as regards the rule of law in a Member State. The proposal addresses, from a budgetary perspective, generalised deficiencies as regards the rule of law, including threats to the independence of the judiciary, arbitrary or unlawful decisions by public authorities, limited availability and effectiveness of legal remedies, failure to implement judgments ...

On 3 May 2018 the Commission put forward a proposal for a regulation on the protection of the Union's budget in the event of generalised deficiencies as regards the rule of law in a Member State. The proposal addresses, from a budgetary perspective, generalised deficiencies as regards the rule of law, including threats to the independence of the judiciary, arbitrary or unlawful decisions by public authorities, limited availability and effectiveness of legal remedies, failure to implement judgments, or limitations on the effective investigation, prosecution or sanctions for breaches of law. The proposal provides for the possibility for the Commission to make proposals to the Council on sanctions measures with regard to EU funding. These include suspension of payments, suspension, reduction or even termination of legal commitments (to pay), suspension of programmes, and the transfer of money to other programmes. Such a proposal would be deemed to have been adopted if the Council failed to reject it by a qualified majority. On 17 August 2018, the European Court of Auditors (ECA) delivered its opinion on the proposal and on 3 October 2018, Parliament's co-rapporteurs presented their draft report on the proposal. While sharing the broad objectives put forward by the Commission, they have proposed a number of amendments. First edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Own resources of the European Union: Reforming the EU's financing system

09-11-2018

The EU budget is financed by the system of own resources and cannot run a deficit. The current system provides sufficient revenue to cover EU expenditure, but has often been criticised as opaque and unfair. The European Parliament, which has little say in the design of the system, has long pushed for its reform, with a view to shifting the focus of budgetary negotiations from geographically pre-allocated expenditure to the policies with the highest European added value. The European Commission is ...

The EU budget is financed by the system of own resources and cannot run a deficit. The current system provides sufficient revenue to cover EU expenditure, but has often been criticised as opaque and unfair. The European Parliament, which has little say in the design of the system, has long pushed for its reform, with a view to shifting the focus of budgetary negotiations from geographically pre-allocated expenditure to the policies with the highest European added value. The European Commission is proposing to modify the financing of the EU budget as of 2021, when the next multiannual financial framework should start. Proposed changes include: the simplification of existing own resources; the introduction of three new own resources linked to EU policies on climate, environment and the single market; the reduction of the share of revenue provided by the GNI-based resource, which is perceived as national contributions; the abolition of the UK rebate (following that country’s withdrawal from the EU); and the phasing-out of corrections currently granted to other five Member States. A special legislative procedure applies to the principal decision, requiring unanimity in the Council. This is considered a major obstacle to reform of the system, which has remained substantially unchanged for 30 years. First edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Coordination and Surveillance of Budgetary Policies of Euro Area Member States During the Autumn Cycle

17-10-2018

This note gives a short overview of the main steps in the framework of euro area Member States’ budgetary policy coordination and surveillance during the autumn cycle of the European Semester. This enhanced monitoring and surveillance of euro area Member States’ budgetary policies is done in accordance with EU law. It aims to identify and correct at an early stage during the Semester cycle any risks of deviation from fiscal policy recommendations agreed by the Member States, ultimately by asking ...

This note gives a short overview of the main steps in the framework of euro area Member States’ budgetary policy coordination and surveillance during the autumn cycle of the European Semester. This enhanced monitoring and surveillance of euro area Member States’ budgetary policies is done in accordance with EU law. It aims to identify and correct at an early stage during the Semester cycle any risks of deviation from fiscal policy recommendations agreed by the Member States, ultimately by asking an updated draft budgetary plan.

2021-2027 multiannual financial framework and new own resources: Analysis of the Commission's proposal

26-07-2018

The process of negotiating a new seven-year financial plan for the EU has now begun formally with the Commission's publication of proposals for a 2021-2027 Multiannual Financial Framework (MFF), and for a new system of own resources providing the revenue to pay for it. This analysis presents the proposed new MFF and own resources and compares them to the status quo, as well as to the European Parliament's priorities as expressed in plenary resolutions adopted in spring 2018.

The process of negotiating a new seven-year financial plan for the EU has now begun formally with the Commission's publication of proposals for a 2021-2027 Multiannual Financial Framework (MFF), and for a new system of own resources providing the revenue to pay for it. This analysis presents the proposed new MFF and own resources and compares them to the status quo, as well as to the European Parliament's priorities as expressed in plenary resolutions adopted in spring 2018.

Reform of the EU's system of own resources

06-03-2018

In May 2018, the European Commission is expected to present a legislative package on what are known as 'own resources' – the sources of revenue for the EU budget – for the period after 2020, alongside proposals on a new Multiannual Financial Framework (MFF). The European Parliament has long pointed to shortcomings in the current system of own resources, and in anticipation of the Commission's proposals, the Committee on Budgets has drafted an own-initiative report on the Parliament's priorities. ...

In May 2018, the European Commission is expected to present a legislative package on what are known as 'own resources' – the sources of revenue for the EU budget – for the period after 2020, alongside proposals on a new Multiannual Financial Framework (MFF). The European Parliament has long pointed to shortcomings in the current system of own resources, and in anticipation of the Commission's proposals, the Committee on Budgets has drafted an own-initiative report on the Parliament's priorities. That report is on the agenda of the March plenary session.

Post-2020 Multiannual Financial Framework

06-03-2018

In May 2018, the European Commission is expected to adopt a proposal on a new Multiannual Financial Framework (MFF) for the period after 2020, alongside proposals on the reform of the 'own resources' system. Parliament's Committee on Budgets (BUDG) has adopted an own-initiative report on its position on the future MFF, together with one on reform of 'own resources'. Due to be debated during the March plenary session, the two texts will set out Parliament’s perspective on both the revenue and expenditure ...

In May 2018, the European Commission is expected to adopt a proposal on a new Multiannual Financial Framework (MFF) for the period after 2020, alongside proposals on the reform of the 'own resources' system. Parliament's Committee on Budgets (BUDG) has adopted an own-initiative report on its position on the future MFF, together with one on reform of 'own resources'. Due to be debated during the March plenary session, the two texts will set out Parliament’s perspective on both the revenue and expenditure sides of the EU budget, which it argues should be treated as a single package in the upcoming negotiations.

Chystané akce

21-01-2020
Outlook for the MENA Region: What future for stabilisation and reconstruction?
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