| Author (Corporate) | BBC |
|---|---|
| Series Title | BBC News |
| Series Details | 29.05.13 |
| Publication Date | 29/05/2013 |
| Content Type | News |
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On 29 May 2013 the European Commission adopted its annual set of economic policy recommendations to EU Member States. The recommendations were based on a detailed assessment of the economic, employment and budgetary situation in each country and on the policy plans they had submitted to the European Commission. Where required, the Commission had recommended further budgetary, structural and growth-enhancing measures which Member States should adopt over the following 12 months. Recommendations were made to Member States that are not in a macroeconomic adjustment programme, and a separate recommendation was made to the euro area as a whole. The recommendations would be endorsed by the European Council in June 2013 and formally adopted by the Council in July 2013. The European Commission also presented recommendations for certain Member States in Excessive Deficit Procedure and for those which underwent in-depth reviews in the context of the Macroeconomic Imbalances Procedure. As a complement to this exercise, the Commission also presented a Communication on the adjustment path for each Member State towards its medium-term objective of a balanced budget in structural terms, as defined in the Treaty on Stability, Coordination and Governance (the ‘Fiscal Compact Treaty’). |
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| Source Link | http://www.bbc.co.uk/news/business-22704729 |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
