Audit of the Macroeconomic Imbalance Procedure (MIP)

Author (Corporate)
Series Title
Series Details Number 03
Publication Date March 2018
ISBN 978-92-872-8823-3
ISSN 1977-5679
EC QJ-AB-17-023-EN-N
Content Type

Summary:

We examined the European Commission’s implementation of the Macroeconomic Imbalance Procedure, which aims to identify, prevent and address macroeconomic imbalances that could adversely affect economic stability in a particular EU country, the euro area, or the EU as a whole.

We found that although the MIP is generally well designed, the Commission is not implementing it in a way that would ensure effective prevention and correction of imbalances. The classification of Member States with imbalances lacks transparency, the Commission’s in-depth analysis despite being of a good standard has become less visible and there is lack of public awareness of the procedure and its implications.

We therefore, make a number of recommendations to the Commission to substantially improve certain aspects of its management and to give greater prominence to the MIP.

Source Link https://www.eca.europa.eu/en/Pages/DocItem.aspx?did=44765
Alternative sources
  • http://publications.europa.eu/webpub/eca/special-reports/mip-3-2018/en/
  • https://www.eca.europa.eu/Lists/ECADocuments/SR18_03/SR_MIP_EN.pdf
Related Link(s)
Official
ECA: News, 23.01.18: Macroeconomic Imbalance Procedure: Well-designed but not implemented effectively https://www.eca.europa.eu/en/Pages/NewsItem.aspx?nid=9527

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