Memo: Following in-depth reviews, Commission calls on Member States to tackle macroeconomic imbalances

The Commission has adopted a package of proposals concluding the second European Semester of economic policy coordination and giving guidance for national policies in 2012-2013.

The package consists of a Communication outlining the main findings and concrete measures to boost economic growth and job creation, as well as of 28 Council Recommendations, one for each Member State, with country-specific guidance on economic policy, such as public finances and structural reforms and one for the euro area. For twelve EU Member States1, these policy recommendations also include guidance on how to address macroeconomic imbalances, according to the new mechanism implemented as part of the so-called 6-Pack legislation.

ESO: Background information: EU gives Spain more time, nudges France on deficit http://www.europeansources.info/record/eu-gives-spain-more-time-nudges-france-on-deficit/

ESO: Background information: Commission's first Alert Mechanism Report: tackling macroeconomic imbalances in the EU http://www.europeansources.info/record/press-release-commissions-first-alert-mechanism-report-tackling-macroeconomic-imbalances-in-the-eu/

European Commission: Memo/12/386: 2012 country-specific recommendations in the context of the European Semester: Frequently asked questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/12/386&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/12/385: Excessive Deficit Procedure recommendations on Bulgaria, Germany and Hungary: Frequently asked questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/12/385&format=HTML&aged=0&language=EN&guiLanguage=en

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