This section explains how the EU monitors national economic policies, and how and when preventive and corrective measures are put in place.
The European Semester is the framework for integrated surveillance and coordination of economic and employment policies across the European Union.
- Applying the rules of the stability and growth pact
- The preventive arm
- The corrective arm/ Excessive Deficit Procedure
- Stability and convergence programmes
- Annual draft budgetary plans (DBPs) of euro area countries
- Legal basis of the Stability and Growth Pact
- Fiscal policy guidance for 2023
- History of the Stability and Growth Pact
The Macroeconomic Imbalances Procedure aims to identify, prevent and address the emergence of potentially harmful macroeconomic imbalances that could adversely affect economic stability in a particular Member State, the euro area, or the EU as a whole.
Economic governance in the EU has been reinforced and refined over time, evolving in the context of historical developments.
The European Commission relaunched the public debate on the review of the EU’s economic governance framework with a Communication published on 19 October 2021. The debate was first launched in February 2020 but later suspended to focus on responding to the economic and social impact of the COVID-19
Green budgeting means using the tools of budgetary policymaking to help achieve climate and environmental goals.
The European Fiscal Board (EFB) is an independent advisory body of the European Commission.
National Productivity Boards are independent institutions that help to analyse economic productivity and competitiveness developments and challenges.