Memo: EU Economic governance

In September 2010 the Commission presented six legislative proposals on economic governance (the so-called Six-Pack). The legislative package contained the most comprehensive reinforcement of economic governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of fiscal policies, but also macroeconomic policies and structural reforms was proposed. New enforcement mechanisms are foreseen for non-compliant euro area Member States. The European Parliament has today given it final agreement and voted to adopt the package.

The Council is expected to give its agreement on 4 October 2011 allowing entry into force by end-2011-beginning of 2012 – and ensuring that the next European Semester of economic policy coordination gets underway with a more solid legal base.

• Primary Source

European Commission: Memo/11/662: Statement by President Barroso on the final agreement on the economic governance package http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/662&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/11/664: Commissioner Rehn comments on the new rules for EU economic governance http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/664&format=HTML&aged=0&language=EN&guiLanguage=en

ESO: Background Information: Parliament to adopt 'six pack' EU budget rules http://www.europeansources.info/record/parliament-to-adopt-six-pack-eu-budget-rules/

---