The Council adopted conclusions assessing the Commission's in-depth reviews of macroeconomic imbalances in 12 member states.
In November 2017, the Commission found that further analysis was needed for 12 member states. The reviews find that continued monitoring is warranted for 11 of those member states. Three are experiencing excessive imbalances and 8 have imbalances that are not excessive.
Ministers called for strong commitment to structural reforms in all member states, and particularly where macroeconomic imbalances affect the smooth functioning of the euro area. Noting that the current upswing in the economy could mask the build-up of imbalances, ministers called for these to be addressed in a durable manner.
The conclusions also assess implementation of the Council's 2017 country-specific recommendations on economic and fiscal policies.
Ministers called for implementation to be stepped up significantly, and to guard against reform fatigue. The conclusions identify the main pending reform challenges.
Conclusions
© European Council
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