Press Release: European semester: Council approves strengthened monitoring of economic and budgetary policies

The Council today (7.9.2010) endorsed changes to the manner in which the EU's stability and growth pact is implemented in order to allow a "European semester" to be introduced as part of a reform of EU provisions on economic policy coordination. This initiative will allow the economic and budgetary policies of the member states to be monitored in parallel during a six-month period every year, starting in 2011, so as to detect any inconsistencies and emerging imbalances.