The Hungarian Presidency of the Council is wholeheartedly committed to implementing the first ever European Semester, and welcomes the publication of the country-specific recommendations today by the Commission. The publication of the proposals marks the beginning of the final stage of the European Semester, expected to lead to well-guided economic programmes and helping Europe recover from the crisis, regain competitiveness and create much-needed jobs.

Today the European Commission presented its country-specific recommendations for each Member State within the context of the first ever European Semester, indicating possible directions for reaching the EU2020 objectives. The recommendations provide feedback on actions proposed by Member States in order to ensure coordinated and effective economic policies on the way out from the crisis towards sustainable economic growth.

The events since the onset of the crisis have demonstrated that Europe must address the deficiencies of our economic governance system and the underlying structural weaknesses of our economies if we are to regain competitiveness, kick-start growth and create much needed jobs. Apart from the economic governance legislative package which the Presidency is currently negotiating with the EP, the European Semester is its new framework for the coordination of the economic policies of Member States, covering fiscal, macroeconomic and structural aspects in a forward-looking and integrated manner. The tools of the European Semester are firmly rooted in the commonly-agreed Europe 2020 strategy and in the soon to be upgraded Stability and Growth Pact.

The Hungarian Presidency continues to commit its resources to implementing the first European Semester smoothly and effectively. It is convinced that the success of the new policy governance cycle is in the common interest of all EU Member States, as only the necessary economic reforms can put the European economy on a sustainable growth path.

Press release