| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 259 final (13.5.15) |
| Publication Date | 13/05/2015 |
| Content Type | Policy-making |
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On 8 July 2014, the Council adopted a recommendation on Spain’s National Reform Programme for 2014 and delivered its opinion on Spain’s updated Stability Programme for 2014. On 28 November 2014, in line with Regulation (EU) No 473/2013, the Commission presented its opinion on Spain’s draft budgetary plan for 2015. On 28 November 2014, the Commission adopted the Annual Growth Survey, marking the start of the 2015 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 26 February 2015, the Commission published its 2015 country report for Spain. This assessed Spain’s progress in addressing the country-specific recommendations adopted on 8 July 2014. The country report also includes the results of the in-depth review. The Commission’s analysis leads it to conclude that Spain is experiencing macroeconomic imbalances which require decisive policy action and specific monitoring. In particular, despite some improvement in current account rebalancing, risks related to the high levels of private- and publicsector indebtedness and the highly negative net international investment position continue to merit close attention in a context of very high unemployment. The need for action to reduce the risk of adverse effects on the Spanish economy and, given its size, of negative spillover effects affecting the economic and monetary union, is particularly important. On 30 April 2015, Spain submitted its 2015 National Reform Programme and its 2015 Stability Programme. 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:2015:259:FIN |
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| Countries / Regions | Spain |
