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On Friday 15 November, the Commission will focus on budgetary coordination in the euro area. For the first time, under new legislation known as the Two Pack, the Commission will issue opinions on each of the 13 draft budgetary plans it received from euro area Member States (those not subject to a macro-economic adjustment programme), and proposals for Council opinions on five economic partnership programmes submitted by euro area Member States in the Excessive Deficit Procedure. The new autumn exercise is an important follow-up to the budgetary recommendations issued within the European Semester in the spring, and checks whether previous reform plans have been translated into action by the Member States.
The Commission will also provide an overview of the budgetary outlook and the fiscal stance of the euro area as a whole and will examine progress made by certain non-euro area Member States under the Excessive Deficit Procedure. The package will be presented by Vice-President Rehn in a press conference.
Read the factsheet explaining the new budgetary rules and how the European Semester works here.