Review of the ‘six-pack’ and ‘two-pack’

The legislative measures introduced with the ‘six-pack’ and the ‘two-pack’ develop and strengthen the Stability and Growth Pact, the framework for coordination of Member States’ fiscal policies within the broader sphere of economic governance.

On 28 November 2014, the European Commission adopted a communication in which it presents its review of the Regulations in the ‘six-pack’ and ‘two-pack’. Although the Commission expresses its general satisfaction with the way the Regulations helped the EU weather the economic crisis, it notes that, at this stage, the review cannot be comprehensive because the time since the entry into force of the rules is too short. Additionally, the Commission notes that the effectiveness of the Regulations needs to be further tested, as until now they have been applied only under strained economic conditions, whereas the preventive arm of the packs also needs to be tested under normal conditions.

Therefore, the Commission notes, the communication is meant to serve as an initial basis for examination, and the Commission intends to enrich it after discussing it further with the European Parliament.

European Commission: : DG Economic and Financial Affairs: EU economic governance http://ec.europa.eu/economy_finance/economic_governance/index_en.htm

EUObserver, 16.12.14: EU to set out growth pact's flexibility framework in new year http://euobserver.com/news/126950

ESO: Background information: The EU's economic governance explained http://www.europeansources.info/record/memo-the-eus-economic-governance-explained-2/

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