Communication from the Commission. 2014 draft budgetary plans of the euro area: overall assessment of the budgetary situation and prospects

In response to the fiscal challenges of the crisis and under the reinforced economic governance, the Commission and the Member States are pursuing a differentiated fiscal strategy, according to the country-specific challenges. This autumn, for the first time, the euro area Member States presented draft budgetary plans to the Commission, seeking an opinion as to whether their budgetary plans for next year would be in line with their obligations under the Stability and Growth Pact (SGP).

By the deadline of 15 October, all euro area Member States not under a macroeconomic adjustment programme submitted their draft budgetary plans for 2014. The Commission has assessed them and provides Member States with an opinion on each plan. It is reassuring that no draft budgetary plan is found in serious non-compliance with the obligations of the SGP and it is not necessary to request revised budgetary plans. However, in several cases, the Commission finds reasons for substantial criticism and calls on the Member States concerned to take its opinions into account in the finalisation of the 2014 budgets.

EUR-Lex: COM(2013)900: Follow the progress of this communication through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2013:900:FIN

ESO: Background information: Europe's budgetary surveillance moves into full gear http://www.europeansources.info/record/press-release-europes-budgetary-surveillance-moves-into-full-gear/

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