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Economic policy coordination in the euro area under the European semester, provided in advance of the economic dialogue with the President of the Eurogroup in ECON on 10 November 2015 : study - pdf

Summary
This paper assesses economic policy coordination in the euro area under the European Semester, which is a yearly process of the European Union aimed at improving economic policy coordination and ensuring the implementation of the EU’s economic rules. Each Semester is concluded with recommendations for the euro area as a whole and for each EU Member State. We show that implementation of recommendations was poor at the inception of the Semester in 2011 and has deteriorated even further since. The European Semester is not particularly effectve in enforcing even the EU’s fiscal and macroeconomic imbalance rules. We assess that euro-area recommendations with tangible economic goals are not well reflected in the recommendations issued to Member States. Finally, we review various proposals to improve the efficiency of the European Semester and conclude that while certain steps could be helpful, policy coordination will likely have major limitations in the future too
Literary Form
non fiction
Provider
Isbn
9789282383315

Classification

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