European Semester: Conclusions on growth prospects and macroeconomic imbalances, recommendation to the eurozone

Both texts are part of the 'European Semester', the EU's annual policy monitoring process. The alert mechanism report is the starting point of the annual macroeconomic imbalances procedure.

The Council also approved a draft recommendation on the economic policies of the euro area.

Annual growth survey

For 2018, the Commission proposes to focus efforts on boosting investment, pursuing structural reforms and ensuring responsible fiscal policies. The Council broadly shared the Commission's analysis and agreed on the policy priorities proposed for 2018.
Council conclusions on the 2018 annual growth survey
2018 annual growth survey

Macroeconomic imbalances

The 2018 alert mechanism report identifies 12 member states that may have a macroeconomic imbalance: Bulgaria, Croatia, Cyprus, France, Germany, Ireland, Italy, the Netherlands, Portugal, Slovenia, Spain and Sweden.
For these, the Commission will present in-depth reviews in March 2018.
The Council broadly shared the Commission's analysis, welcoming progress made by member states in correcting their imbalances.
Council conclusions on the 2018 alert mechanism report
2018 alert mechanism report

Recommendation for the euro area

The draft recommendation will be referred to the European Council for endorsement in March. It will then be adopted by the Council.
2018 Council recommendation on the economic policy of the euro area