Commisisoner Rehn highlighted that: “the cycle starts in January with a Annual Growth Survey (AGS) by the European Commission, reviewing economic challenges for the EU and the Euro Area. The AGS will be presented to the European Parliament. Member States will submit their Stability and Convergence Programmes and their National Reform Programmes in April, so that the Commission can assess them simultaneously. Then the Council, based on Commission assessments, could issue country specific policy guidance in June and July."
"Now the work must go on with other important reforms to reinforce our economic governance. I note with satisfaction that our views on strengthening the debt criterion of the SGP gather a large consensus too."
"I expect the same level of commitment from the Member States on moving to a more rule-based enforcement of the Stability and Growth Pact, including more and more effective incentives and sanctions which will kick in at an earlier stage. Sanctions should be a normal, almost automatic, consequence to be expected by countries in breach of their commitments."
On 29 September, the Commission will propose a legislative package to reinforce fiscal and macroeconomic surveillance which will include more effective incentives and sanctions.
© European Commission
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