| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 410 final (02.06.14) |
| Publication Date | 02/06/2014 |
| Content Type | Policy-making |
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On 9 July 2013, the Council adopted a recommendation on Spain’s national reform programme for 2013 and delivered its opinion on Spain’s updated stability programme for 2012-2016. On 15 November 2013, in line with Regulation (EU) No 473/2013, the Commission presented its opinion on Spain's draft budgetary plan for 2014. On 13 November 2013, the Commission adopted the Annual Growth Survey, marking the start of the 2014 European Semester of economic policy coordination. On the same day, on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which it identified Spain as one of the Member States for which an in-depth review would be carried out. On 5 March 2014, the Commission published the results of its in-depth review for Spain, under Article 5 of Regulation (EU) No 1176/2011. The Commission's analysis leads it to conclude that Spain is experiencing macroeconomic imbalances which require specific monitoring and decisive policy action. In particular, in several areas, the adjustment of the imbalances identified last year as excessive has clearly advanced and the return to positive growth has reduced risks. However, the magnitude and inter-related nature of the imbalances, in particular high domestic and external debt levels and high unemployment, mean that vulnerabilities are still present. On 30 April 2014, Spain submitted its 2014 national reform programme and its 2014 stability programme. In order to take account of their interlinkages, the two programmes have been assessed at the same time. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:410:FIN |
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| Countries / Regions | Europe, Spain |
