Published on 30-06-10
The European Commission published today details of a set of tools to
strengthen the economic governance of the EU and the euro area. Its cornerstone
is the implementation of enhanced surveillance of fiscal policies,
macroeconomic policies and structural reforms.
The European Commission President José Manuel Barroso said: "We need to
strengthen economic governance in Europe. Although the EU has several
instruments for the coordination of economic policy, the crisis has put in
evidence that these have not been fully used and that there are certain gaps in
the current system of governance.
He added, "Today, the Commission is putting forward ambitious proposals
which will bring concrete progress. Through the "European Semester" we
can give coherence to the European monitoring. This is logical and necessary.
And through an incentive system that applies sanctions further upstream, we are
giving ourselves the tools to act whenever it is necessary."
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