The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.
23 June 2011
European Parliamant (EP) votes on its position on EU economic governance package
The EP plenary adopted its position on the EU economic governance package of proposals, insisting on a number of changes.
>> European Parliament. Economic governance package explained. Economic governance: Parliament seals its position ahead of European Council
20 June 2011
Finance ministers approved the Commission recommendations on Member States’ national reform programmes and opinion on the Member States’ updated Stability and Convergence Programmes. The integrated policy advice is set to be discussed by the European Council at their meeting of 23 - 24 June, thus concluding the first European Semester.
Following the Eurogroup meeting of 19 June, finance ministers also stated that the finalisation of the update of the Memorandum of Understanding between the troika and Greece, and the adoption of key laws on fiscal strategy and privatisation by the Greek parliament, would pave the way for the next disbursement of funds, expected by mid-July.
>> Statement by the Eurogroup of 20 June 2011
>> Press release 11595/11 Council conclusions of 20 June 2011
3 June 2011
Statement by the European Commission, the ECB and IMF on the Fourth Review Mission to Greece
Staff teams from the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF) concluded their fourth quarterly mission to Greece on 3 June, reaching staff-level agreement with the Greek authorities on a set of economic and financial policies needed to keep the country’s adjustment program on track. Discussions on the financing modalities for the program were expected to follow over the next few weeks. Economic & Monetary Affairs Commissioner Rehn signalled that the Commission and EU Member States were ready to reinforce their technical assistance in those economic areas where the authorities might feel the need, for instance on taxation and privatization. The final mission report will be issued in the coming days. So far, Greece has received €53 billion in loans under the EU/IMF support package worth €110 billion agreed in May 2010.
>> MEMO 11/372. Statement by the European Commission, the ECB and IMF on the Fourth Review Mission to Greece
>> Economic and Financial Affairs. The Greek loan facility
>> Economic and Financial Affairs. Economies of the Member States - Greece