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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.

Structural Budget Balances in EU Member States - November 2019

14-11-2019

Structural budget balances play an important role in the fiscal policy frameworks of the EU both as part of the application of the Stability and Growth Pact (SGP) and in the implementation of the balanced budget rule by the contracting parties of the intergovernmental Treaty on Stability, Coordination and Governance in the EMU (the fiscal section of the Treaty is called “Fiscal Compact”). This document provides a short overview of the concept and application of the structural balance rule(s) in ...

Structural budget balances play an important role in the fiscal policy frameworks of the EU both as part of the application of the Stability and Growth Pact (SGP) and in the implementation of the balanced budget rule by the contracting parties of the intergovernmental Treaty on Stability, Coordination and Governance in the EMU (the fiscal section of the Treaty is called “Fiscal Compact”). This document provides a short overview of the concept and application of the structural balance rule(s) in the EU. It will be regularly updated, in particular, the Annex that shows progress made (based on the latest Commission forecast) by Member States in reaching their structural budget commitments under the preventive arm of the SGP.

Public finances in Euro Area Member States: selected indicators - February 2020

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.

The 2019 proposed amendments to the Treaty establishing the European Stability Mechanism

11-10-2019

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism, following the decisions taken by the Eurogroup and the June 2019 Euro Summit. It complements an EGOV briefing on the ESM features, instruments and accountability. The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one.

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism, following the decisions taken by the Eurogroup and the June 2019 Euro Summit. It complements an EGOV briefing on the ESM features, instruments and accountability. The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one.

The role (and accountability) of the President of the Eurogroup

03-10-2019

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

Hearings of the Commissioners-designate: Valdis Dombrovskis – Vice-President: An Economy that works for people

26-09-2019

This briefing is one in a set looking at the Commissioners-designate and their portfolios as put forward by Commission President-elect Ursula von der Leyen. Each candidate faces a three-hour public hearing, organised by one or more parliamentary committees. After that process, those committees will judge the candidates' suitability for the role based on 'their general competence, European commitment and personal independence', as well as their 'knowledge of their prospective portfolio and their communication ...

This briefing is one in a set looking at the Commissioners-designate and their portfolios as put forward by Commission President-elect Ursula von der Leyen. Each candidate faces a three-hour public hearing, organised by one or more parliamentary committees. After that process, those committees will judge the candidates' suitability for the role based on 'their general competence, European commitment and personal independence', as well as their 'knowledge of their prospective portfolio and their communication skills'. At the end of the hearings process, Parliament votes on the proposed Commission as a bloc, and under the Treaties may only reject the entire College of Commissioners, rather than individual candidates. The Briefing provides an overview of key issues in the portfolio areas, as well as Parliament's activity in the last term in that field. It also includes a brief introduction to the candidate.

Hearings of the Commissioners-designate: Paolo Gentiloni - Economy

26-09-2019

This briefing is one in a set looking at the Commissioners-designate and their portfolios as put forward by Commission President-elect Ursula von der Leyen. Each candidate faces a three-hour public hearing, organised by one or more parliamentary committees. After that process, those committees will judge the candidates' suitability for the role based on 'their general competence, European commitment and personal independence', as well as their 'knowledge of their prospective portfolio and their communication ...

This briefing is one in a set looking at the Commissioners-designate and their portfolios as put forward by Commission President-elect Ursula von der Leyen. Each candidate faces a three-hour public hearing, organised by one or more parliamentary committees. After that process, those committees will judge the candidates' suitability for the role based on 'their general competence, European commitment and personal independence', as well as their 'knowledge of their prospective portfolio and their communication skills'. At the end of the hearings process, Parliament votes on the proposed Commission as a bloc, and under the Treaties may only reject the entire College of Commissioners, rather than individual candidates. The Briefing provides an overview of key issues in the portfolio areas, as well as Parliament's activity in the last term in that field. It also includes a brief introduction to the candidate.

Challenges ahead for EMU monetary policy

16-09-2019

With the economic slowdown in the euro area, questions arise as to whether the ECB retains some economic and political margins for manoeuvre after a decade of active policies. In this note, we highlight three possible monetary policy developments. We discuss their pros and cons according to four dimensions: political constraints, technical constraints, independence and interactions with fiscal policy.

With the economic slowdown in the euro area, questions arise as to whether the ECB retains some economic and political margins for manoeuvre after a decade of active policies. In this note, we highlight three possible monetary policy developments. We discuss their pros and cons according to four dimensions: political constraints, technical constraints, independence and interactions with fiscal policy.

Autorzy zewnętrzni

Christophe Blot, Jérôme Creel & Paul Hubert

The ECB’s Unfinished Business: Challenges ahead for EMU Monetary and Fiscal Policy Architecture

16-09-2019

Under Mario Draghi’s Presidency, the range of measures and tools of the ECB expanded significantly, both by enhancing transparency and in the direction of stretching the ECB’s competences beyond the limits to the existing monetary framework. Notwithstanding these achievements, significant challenges remain. In this note, we assess the potential limits to the amount of ECB’s easing available for the future, including credit and political considerations. We argue that monetary policy stimulus alone ...

Under Mario Draghi’s Presidency, the range of measures and tools of the ECB expanded significantly, both by enhancing transparency and in the direction of stretching the ECB’s competences beyond the limits to the existing monetary framework. Notwithstanding these achievements, significant challenges remain. In this note, we assess the potential limits to the amount of ECB’s easing available for the future, including credit and political considerations. We argue that monetary policy stimulus alone may not resolve the situation of having the euro area stuck in a slowing growth environment, and ask whether the next President may want to pass the ball more strongly to national governments.

Autorzy zewnętrzni

Corrado MACCHIARELLI, Eddie GERBA and Sebastian DIESSNER

Debaty w Parlamencie Europejskim na temat przyszłości Europy, 2018-2019: Podsumowanie wystąpień szefów państw lub rządów UE

08-05-2019

Niniejszy dokument podsumowuje cykl czterech briefingów dotyczących debaty na temat przyszłości Europy i przedstawiających poglądy poszczególnych szefów państw lub rządów, którzy zabrali głos podczas posiedzeń plenarnych Parlamentu Europejskiego od stycznia 2018 r. do kwietnia 2019 r. W pierwszej części dokumentu opisano ogólne zbieżności i rozbieżności poglądów mówców, tendencje w poruszanych zagadnieniach oraz wysunięte propozycje. W drugiej części przedstawiono fragmenty niektórych najbardziej ...

Niniejszy dokument podsumowuje cykl czterech briefingów dotyczących debaty na temat przyszłości Europy i przedstawiających poglądy poszczególnych szefów państw lub rządów, którzy zabrali głos podczas posiedzeń plenarnych Parlamentu Europejskiego od stycznia 2018 r. do kwietnia 2019 r. W pierwszej części dokumentu opisano ogólne zbieżności i rozbieżności poglądów mówców, tendencje w poruszanych zagadnieniach oraz wysunięte propozycje. W drugiej części przedstawiono fragmenty niektórych najbardziej istotnych wypowiedzi, a także bardziej szczegółową analizę różnych stanowisk mówców w następujących kluczowych obszarach polityki: unia gospodarcza i walutowa, migracja, wymiar społeczny, handel międzynarodowy, zmiana klimatu i energia, bezpieczeństwo i obrona, kolejne wieloletnie ramy finansowe oraz kwestie instytucjonalne.

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