Last autumn the EU agreed to tighten financial supervision in the private sector, in an effort to head off any future financial crisis. Now the public sector is under the spotlight as the European Parliament tackles dangerous imbalances in EU economies and considers new rules meant to limit the growth of debt and deficits in the Member States.

In April, the Economic and Monetary Affairs Committee adopted the six proposals making up the economic governance package. Four of the proposals aim to strengthen the Stability and Growth Pact (SGP) and budgetary surveillance, while the remaining two focus on monitoring and controlling macro-economic imbalances within the EU.

In the first section  there is audiovisual material; in the second section Economic Committee Chair, Sharon Bowles, gives us her take on the package and negotiations. The third section includes the views of the rapporteurs on the reform of the Stability and Growth Pact, and the fourth section explains the committee vote.

Press release