Memo: EU Economic governance

In September 2010 the Commission presented six legislative proposals on economic governance (the so-called Six-Pack).

The legislative package contained the most comprehensive reinforcement of economic governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of fiscal policies, but also macroeconomic policies and structural reforms was proposed. New enforcement mechanisms are foreseen for non-compliant euro area Member States. Earlier this week agreement was reached by the European Parliament, the Council and the Commission on these proposals. This memo reflects the state of play and contains the main elements of the political agreement found by the three institutions this week.

The European Parliament and the Council are expected to give their final agreement to the package on 28 September 2011 and 4 October 2011 respectively, allowing entry into force by end-2011-beginning of 2012 – and ensuring that the next European Semester of economic policy coordination gets underway with a more solid legal base.

• Primary Source

ESO: Background Information: Deal reached on EU economic governance laws http://www.europeansources.info/record/deal-reached-on-eu-economic-governance-laws/

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