The Two Pack establishes a common budgetary timeline for euro area Member States which requires these Member States to submit draft budgetary plans to the Commission by October 15 every year, prior to the adoption of the budget.
In order to avoid a multiplying of reporting requirements, Regulation 473/2013 explicitly makes exception for Member States subject to a macroeconomic adjustment programme. Therefore, Cyprus, Greece, Ireland and Portugal did not have to present a draft budgetary plan, as the surveillance takes place in the context of their programme.
30 Oct 2013 - Draft budgetary plan
The Commission provides two assessments:
This exercise mirrors the horizontal assessment of stability and convergence programmes taking place in Spring, but with a focus on the forthcoming year rather than on medium-term fiscal plans.
The Commission opinion on euro area Member States' plans is based on the requirements of the SGP – in particular the country-specific recommendations issued under the preventive arm at the end of the European Semester and the need to comply with the Medium-Term Objectives (MTO) requirements.
For countries under an Excessive Deficit Procedure (EDP), progress towards meeting the obligations stemming from the recommendations issued to the Member State will be a central aspect of the assessment. If the Commission identifies particularly serious non-compliance with the European budgetary policy obligations, it can ask for a new plan to be submitted.