Convening by video conference on 26 March due to coronavirus precautionary measures, the 27 members of the European Council discussed further policy responses to the coronavirus outbreak.
"Today we propose maximum flexibility for our rules which will allow our national governments to support everybody - their healthcare systems, staff as well as the people so severely affected by the crisis. I want to make sure that we respond to the human as well as socio-economic dimension of the Coronavirus pandemic in the best way possible."
On 20 March, the Commission proposed the activation of the general escape clause of the Stability and Growth Pact (SGP) as part of its strategy to respond quickly, forcefully and in a coordinated manner to the coronavirus pandemic.
“This is a wake up call for the necessity of a coordinated fiscal policy at the euro-area level”
The Commission has presented a proposal to enshrine in legislation the EU's political commitment to be climate neutral by 2050, to protect people and planet.
The European Investment Fund (EIF) has signed an agreement with Finint Investments SGR to join the investor pool of the PMI Italia II private debt fund.
The latest episode of Euronews’ Real Economy asks whether the time has come for a shakeup in European rules on taxation and spending.
The Commission has proposed to the Council to open an Excessive Deficit Procedure for Romania and adopted a recommendation to the Council setting out the adjustment requirements.
The Eurogroup held a conference call on 4 March together with non-euro area members on the situation regarding the coronavirus disease (COVID-19).
Following the presentation of the review of the effectiveness of the economic surveillance framework, the Commission has now launched the dedicated on-line platform on which interested parties can express their opinions on the matter.
On 10 March, EU leaders gave the Commission a mandate to further step up its response to the Coronavirus, or COVID-19 outbreak, on all fronts and coordinate Member State actions.
Public debate on the future of EU economic surveillance framework
In February 2020, the Economic Sentiment Indicator (ESI) increased in both the euro area (by 0.9 points to 103.5) and the EU (by 0.5 points to 103.0).
The latest episode of Euronews’ Real Economy examines Europe's ageing population and how it will impact society and the economy.
The European Investment Fund (EIF) agreed on 20 February to guarantee a portfolio of up to €10 million in loans by Noviti Finance, who will primarily support micro enterprises with loans of up to €25,000.
Staff from the European Commission, in liaison with staff from the European Central Bank, visited Lisbon from 11-13 February for the eleventh post-programme surveillance (PPS) mission to Portugal.
As part of the European Semester Winter Package, on 26 February the Commission also published the results of in-depth reviews of the macroeconomic imbalances of 13 Members States.
The uncertain economic outlook underscores the importance of reforms to enhance potential growth. The country reports assess Member States' progress in implementing country-specific recommendations (CSRs), the tailored policy guidance the Commission provides each year.
“Today, we are taking the first step towards putting sustainability at the heart of EU economic policy and action. The 2020 country reports track progress towards the UN's Sustainable Development Goals and include a dedicated section on environmental sustainability. This goes hand in hand with the European Semester's focus on economic and social issues and the correction of macroeconomic imbalances.”
As part of the European Semester process, the Commission has published country reports that analyse each Member State's key socio-economic challenges.
