Press Release: Economic governance: Council adopts ‘two-pack’

The Council on 13 May 2013 adopted the so-called 'two-pack' of regulations aimed at further improving economic governance in the euro area, namely:

– a regulation on enhanced monitoring and assessment of draft budgetary plans of euro area member states, with closer monitoring for those in an excessive deficit procedure;
– a regulation on enhanced surveillance of euro area member states that are experiencing or threatened with serious financial difficulties, or that request financial assistance.

ESO: Background Information: 'Two-Pack' completes budgetary surveillance cycle for euro area and further improves economic governance http://www.europeansources.info/record/memo-two-pack-completes-budgetary-surveillance-cycle-for-euro-area-and-further-improves-economic-governance/

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