Eurogroup adopts terms of reference on budgetary policies
The new Terms of Reference were adopted by Ministers at their last meeting on 8 June in Luxembourg.
Updated 15 June 2009 In order to monitor the appropriateness of the fiscal policy stance for the euro area as a whole, a mid-term review of budgetary policies takes place at the Eurogroup every year before summer. In the light of the Council opinions on the stability programmes and budgetary planning under way in Member States, budgetary policies are reviewed within a forward-looking and comprehensive perspective. The orientations coming out of this review can provide Member States with the background of a common Eurogroup perspective when preparing their budgets.
The attached Terms of Reference were adopted by Ministers at their last meeting on 8 June in Luxembourg.