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Public finances in EMU - 2009
(EUROPEAN ECONOMY. No. x. 2009. Office for Official Publications of the EC. Luxembourg. )

In addition to the direct fiscal costs of interventions in the financial sector, financial crises lead to large fiscal deficits that further contributed to public debt-to-GDP ratios racketing up. Coupled with the prospected increases in age-related expenditure, lower growth in the medium-term and possible calls on government guarantees extended in the context of financial rescue packages, this poses great budgetary challenges ahead. The report analyses past experiences with systemic financial crises and draws lessons. Quick, resolute and comprehensive policy responses in the financial sector, together with an exit strategy of timely unwinding government interventions can contain the costs..

Public finances in EMU - 2008
(EUROPEAN ECONOMY. No. x. 2008. Office for Official Publications of the EC. Luxembourg. 314pp. Tabl. Graph. Bibliogr.   ISSN 0379-0991)

The analysis reveals that Member States have significant scope to enhance the quality of public finances. A comprehensive fiscal policy approach that raises the quality of public finances is called for. Policy action can be more growth-friendly and competitiveness-enhancing through measures that help raise the efficiency of expenditure and revenue systems.

Public finances in EMU - 2007
(EUROPEAN ECONOMY. No. 3. 2007. Office for Official Publications of the EC. Luxembourg. 330pp. Tabl. Graph. Bibliogr. KC-AR-07-003-EN-C; ISBN 978-92-79-04948-4; ISSN 0379-0991)

Compared with a couple of years ago, the overall conditions of public finances have improved significantly in 2006 in both the euro area and the EU as a whole. This year the Public Finances in EMU report focuses on ways to keep up the momentum of fiscal adjustment so as to make rapid progress towards the achievement of sustainable fiscal positions.

Public finances in EMU - 2006
(EUROPEAN ECONOMY. No. 3. 2006. Office for Official Publications of the EC. Luxembourg. 481pp. Tabl. Graph. Bibliogr) KC-AR-06-003-EN-C; ISBN 92-79-01233-9; ISSN 0379-0991 )

One year ago, the EU Heads of State or Government endorsed the March 2005 ECOFIN Council report containing the main directions for reforming the Stability and Growth Pact. This year, the Public Finances in EMU report takes stock of the experience on the revised Pact.

Public finances in EMU - 2005
(EUROPEAN ECONOMY. No. 3. 2005. Office for Official Publications of the EC. Luxembourg. 422pp. Tabl. Graph. Bibliogr) KC-AR-05-003-EN-C; ISBN 92-894-8882-4; ISSN 0379-0991)

The Commission calls on Member States to live up to their renewed commitment to sound budgetary policies and pledges to implement forcefully the reformed Growth and Stability Pact. The report shows that the average budget deficit in the euro area and in the EU25 improved slightly in 2004 after having deteriorated for three consecutive years. But this was largely the result of progress in new Member States. The situation of public finances needs to be dealt with resolutely to prevent debt ratios from increasing, also in view of looming ageing prospects, and to better use public resources to foster a higher growth potential.

Public finances in EMU - 2004
(EUROPEAN ECONOMY. No. 3. 2004. Office for Official Publications of the EC. Luxembourg. 289pp. Tabl. Graph. Bibliogr) KC-AR-04-003-EN-C; ISBN 92-894-4958-6; ISSN 0379-0991)

Published in context with the the Commission Communication COM(2004)425 final, this fifth annual report on public finances in EMU forms part of Commission efforts to upgrade the analysis and surveillance of fiscal policies in EMU and to place emphasis on the quality and sustainability of public finances as a means to increase their contribution to growth potential. Moreover, the report reviews ideas on how to strengthen the framework for economic governance and to improve its enforcement.

Public finances in EMU - 2003

(EUROPEAN ECONOMY. No. 3. 2003. Office for Official Publications of the EC. Luxembourg. 399pp. Tabl. Graph. Bibliogr.) KC-AR-03-003-EN-C; ISBN 92-894-5085-1; ISSN 0379-0991

Published in context with the the Commission Communication COM(2003)283 final, this fourth annual report on public finances in EMU forms part of Commission efforts to upgrade the analysis and surveillance of fiscal policies in EMU and to place emphasis on the quality and sustainability of public finances. Moreover, the report marks a further step towards progressively incorporating the candidate countries into the EU framework for budgetary surveillance.

Public finances in EMU - 2002

(EUROPEAN ECONOMY. No 3. 2002. Office for Official Publications of the EC. Luxembourg. 379pp. Tabl. Graph. Bibliogr.) KC-AR-02-003-EN-C; ISBN 92-894-3358-2; ISSN 0379-0991

This third report on public finances in EMU contains, in addition to reviewing Member States’ budgetary performance in 2001 and assessing the short and medium-term prospects, an examination of some of the questions in the fast evolving debate on budgetary policy at EU level, with a particular emphasis on EMU.

Public finances in EMU - 2001

(EUROPEAN ECONOMY. Reports and Studies No 3. 2001. Office for Official Publications of the EC. Luxembourg. 317pp. Tabl. Graph. Bibliogr.) KC-38-01-576-EN-C; ISBN 92-894-1281-X; ISSN 1026-6232

This is the second report on Public finances in EMU prepared by the Directorate General for Economic and Financial Affairs. It is part of ongoing efforts by the Commission to upgrade analysis on fiscal policies in EMU.

Public finances in EMU - 2000

(EUROPEAN ECONOMY. No 3. 2000. Office for Official Publications of the EC. Luxembourg. 279 pp. Tabl. Graph. Bibliogr.) KH-30-00-504-EN-C; ISBN 92-828-9657-9