Today’s package launches the annual cycle of economic governance. It sets out general economic and social priorities for the EU and gives Member States policy guidance for the following year.
Policy challenges vary across countries, so responses will also vary. However, there are overarching themes that affect the EU as a whole. To strengthen the recovery and foster convergence, the Commission recommends building on the three main pillars identified last year for the EU's economic and social policy: re-launching investment, pursuing structural reforms and responsible fiscal policies.
Apart from the Annual Growth Survey the package also includes the Alert Mechanism Report and the draft Joint Employment Report and other related documents. In order to better integrate the euro area and national dimensions of the EU economic governance, the 2016 Annual Growth Survey this time is also accompanied by a recommendation for a Council Recommendation on the economic policy of the euro area.
The Alert Mechanism Report is the starting point for the annual surveillance cycle under the Macroeconomic Imbalance Procedure (MIP) and is traditionally presented alongside the AGS. The AMR aims to identify risks of imbalances that require further in-depth investigation as imbalances may hinder the performance of national economies, the euro area, or the EU as a whole. This year, in line with what was announced previously, the employment and social dimensions of the Alert Mechanism Report are strengthened through the addition of three headline indicators to the MIP scoreboard. There is also a particular focus on the euro area as such, given the deeper interdependence of its economies.
The draft Joint Employment Report, to be adopted jointly with the Council, analyses the employment and social situation in Europe and the policy responses by Member States. The report shows that substantial structural reforms pay off. It also analyses the potential for improving the employment and social performance of the EU as a whole.
Full press release
2016 Annual Growth Survey
2016 Alert Mechanism Report
draft Joint Employment Report
Recommendation for a Council Recommendation on the economic policy of the euro area (and an accompanying Staff Working Document)
Commission proposal for a regulation establishing a Programme for Structural Reform Support
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