The Council adopted conclusions assessing the Commission's in-depth reviews of macroeconomic imbalances in 13 member states.
Part of an annual procedure, the reviews determine whether a macroeconomic imbalance exists in each country and whether that imbalance can be considered excessive. In November 2016, the Commission found that further analysis was needed for those 13 member states. According to the reviews, 6 of them are experiencing excessive imbalances and 6 have imbalances that are not excessive, so continued monitoring is warranted for all 12.
The conclusions also look at implementation of the Council's 2016 country-specific recommendations on economic and fiscal policies.
The Council calls for policy action and strong commitment to structural reforms in all member states, particularly where imbalances affect the euro area. Imbalances should be addressed in a durable manner.
Ministers also called for implementation to be stepped up in order to guard against reform fatigue. Implementation is uneven across policy areas and member states, and only in a few cases has substantial progress been made.
Full conclusions
© European Commission
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