| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 408 final (02.06.14) |
| Publication Date | 02/06/2014 |
| Content Type | Policy-making |
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Ireland was subject to a macroeconomic adjustment programme until December 2013. Under Article 12 of Regulation (EU) No 472/2013 it was thus exempt from the monitoring and assessment of the European Semester for economic policy coordination for the duration of that programme. In view of the successful completion of the Irish macroeconomic adjustment programme, Ireland should now be fully integrated in the European Semester framework. 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. On 5 March 2014, the Commission published the results of its in-depth review for Ireland, under Article 5 of Regulation (EU) No 1176/2011 and taking into account the successful completion of the Irish economic adjustment programme and thus the fact that Ireland should now be fully integrated in the European Semester framework. The Commission's analysis leads it to conclude that Ireland's recently completed macroeconomic adjustment programme was instrumental in managing economic risks and reducing imbalances. However, the remaining macroeconomic imbalances require specific monitoring and decisive policy action. In particular, financial sector developments, private and public sector indebtedness, and, linked to that, the high gross and net external liabilities and the situation of the labour market mean that risks are still present. On 17 April 2014, Ireland submitted its 2014 national reform programme and on 29 April 2014 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 | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:408:FIN |
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| Countries / Regions | Europe, Ireland |
