Europe's budgetary surveillance moves into full gear

EU News 474/2013

IP/13/1082
Brussels, 15 November 2013

The European Commission today presented a major package of budgetary surveillance announcements, covering 13 euro area Member States and 3 non-euro Member States, with a special focus also on the euro area as an economic entity in its own right. For the first time, the Commission has issued opinions on euro area Member States' Draft Budgetary Plans, which from this year must be submitted to the Commission by 15 October, at the same time as draft budgets are sent to national parliaments. Assessments have also been published regarding compliance with Council recommendations under the Excessive Deficit Procedure (EDP), potential breaches of the debt and deficit criteria under the Stability and Growth Pact (SGP), and on certain Member States' plans for structural reforms with a budgetary impact outlined in their Economic Partnership Programmes (EPP).

Source and additional information:
http://europa.eu/rapid/press-release_IP-13-1082_en.htm?locale=en

Olli Rehn Date: 15/11/2013 Reference: P-024420/00-05 Location: Brussels - EC/Berlaymont (C)EU, 2013 URL

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