Report from the Commission to the European Parliament and the Council on the exercise of the power to adopt delegated acts conferred on the Commission pursuant to Regulation (EU) No 1173/2011 of the European Parliament and of the Council of 16 November 2011 on the effective enforcement of budgetary surveillance in the euro area

Regulation (EU) No 1173/2011 of the European Parliament and of the Council on the effective enforcement of budgetary surveillance in the euro area is one of the six legal acts in the economic governance package called ‘the six-pack’. The economic governance package, as a whole, was designed to address the gaps and weaknesses identified in the EU economic governance system, which were partly responsible for the spread of economic crisis in EU countries.

Regulation (EU) No 1173/2011 empowers the Commission to adopt delegated acts with respect to certain procedures in connection with sanctions concerning the manipulation of statistics. In particular the Commission is empowered to establish detailed rules concerning the procedures for the investigations together with expressly defined associated measures. These powers delegated to the Commission were an illustration of the move towards more robust surveillance of economic and monetary cooperation, including sanction mechanisms.

This report is required under Article 11(2) of Regulation (EU) No 1173/2011. Pursuant to this provision, the power to adopt delegated acts is conferred on the Commission for a period of three years from 13 December 2011 and the Commission is required to prepare a report in respect of the delegation of power.

• Primary Source

EUR-Lex: COM(2014)393: Follow the progress of this report through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2014:393:FIN

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