Press Release: EU economic governance: The European Commission delivers a comprehensive package of legislative measures

The European Commission has adopted a legislative package containing 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 is sought in the light of the shortcomings of the existing legislation. New enforcement mechanisms are foreseen for non-compliant Member States. The recently agreed "European semester" will integrate all revised and new surveillance processes into a comprehensive and effective economic policy framework.

• Primary Source

European Commission: Speech/10/494: José Manuel Durão Barroso, President of the European Commission, "Opening remarks by President Barroso on economic governance", Joint press conference with Commissioner Olli Rehn Brussels, 29 September 2010 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/10/494&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/10/455: Economic governance package (1): Strengthening the Stability and Growth Pact http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/455&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/10/454: Economic governance package (2): Preventing and correcting macroeconomic imbalances http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/454&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/10/456: Economic governance package (3): Chronology and overview of the new framework of surveillance and enforcement http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/456&format=HTML&aged=0&language=EN&guiLanguage=en

ESO: Background information: EU pledges large fines for fiscal sinners http://www.europeansources.info/record/eu-pledges-large-fines-for-fiscal-sinners/

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