Delivering a deeper and fairer Economic and Monetary Union is one of the top 10 priorities of President Juncker in his Political Guidelines. The Five Presidents’ Report, presented on 22 June 2015, is the basis for achieving this aim within the next decade.
The report was prepared at the request of the Summit of euro area leaders of October 2014 and the European Council of December 2014.
Economic governance in the EU is organised annually in a cycle, known as the European Semester. The Annual Growth Survey is the first step in this cycle. It has been reinforced and refined over time, evolving in the context of historical developments. The Commission's work on Economic and Monetary Union is the latest step in this process.