Press Release: EU economic governance: the Commission proposes a reinforced macro-economic, budgetary and structural surveillance

The European Commission has adopted a Communication outlining a set of tools to strengthen the economic governance of the EU and the euro area. Its cornerstone is the implementation of enhanced surveillance of fiscal policies, macroeconomic policies and structural reforms. Enhanced surveillance will be based on a "European semester" and comes with an array of sanctions to prevent or correct the excesses that could jeopardize the financial stability of the EU and the euro area. The Stability and Growth Pact will be reinforced with particular attention given to the evolution of debt as well as public deficits.

• Primary Source

European Commission: Memo:MEMO/10/288: A toolbox for stronger economic governance in Europe http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/288&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission:Speech: SPEECH/10/350: Tools for enhanced EU economic governance http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/10/350&format=HTML&aged=0&language=EN&guiLanguage=en

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