Archive:Economy and finance statistics introduced

Indicators from various areas, such as national accounts, government finance, exchange rates and interest rates, consumer prices, and the balance of payments support analysis of the economic situation used in the design, implementation and monitoring of European Union (EU) policies.

The EU is active in a wide range of policy areas, but economic policies have traditionally played a dominant role. Starting from a rather narrow focus on introducing common policies for coal and steel, atomic energy and agriculture as well as the creation of a customs union over 50 years ago, European economic policies progressively extended their scope to a multitude of domains.

Since 1993, the European single market has enhanced the possibilities for people, goods, services and money to move around the EU as freely as within a single country. The start of economic and monetary union (EMU) in 1999 has given economic and market integration further stimulus. The euro has become a symbol for Europe, and the number of countries that have adopted the single currency has increased from an original 11 to 16 countries by 2010.

Fostering economic and social progress, with constant improvements in living and working conditions, has also been a key objective of European policies. The strongest global financial and economic crisis since the 1930s reversed much of the economic progress made since the 2000 Lisbon strategy was adopted. In the aftermath of this crisis, in March 2010, the European Commission launched the Europe 2020 strategy for smart, sustainable and inclusive growth. Its declared objective is to overcome the effects of the crisis and prepare the EU’s economy for the next decade; the integrated economic and employment guidelines have been revised within the context of this new strategy. Among the ten guidelines one aims to address macro-economic imbalances, and the other aims to reduce imbalances in the euro area. A third guideline concerns the specific issue of ensuring the quality and the sustainability of public finances (see article on government finance statistics).

Following actions to stabilise the financial system and the economy, the recent crisis has also prompted substantial reforms of EU macro-economic, budgetary and structural surveillance. A key new element is the introduction of a European semester starting in January 2011. It will cover fiscal discipline, macro-economic stability and policies to foster growth, aligning processes under the stability and growth pact and the Europe 2020 strategy, while retaining their legal specificities. European economic statistics will play an important role in this process.

Further Eurostat information

Dedicated sections

• Balance of payments
• ESA 95 Supply Use and Input-Output tables
• European sector accounts
• Exchange rates
• Financial accounts
• Government finance statistics
• Harmonised Indices of Consumer Prices (HICP)
• Interest rates
• Monetary and other financial statistics
• National accounts (including GDP)
• Purchasing power parities (PPPs)

See also

All articles on economy and finance

External links

• Europe 2020: a strategy for smart, sustainable and inclusive growth, European Commission