155-588: Stability Pact can mean Stability and Growth Pact of the Economic and Monetary Union of the European Union Stability Pact for South Eastern Europe , an institution aimed at strengthening peace, democracy, human rights and economy in the countries of South Eastern Europe 1999-2008 Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
310-470: A "2024 National Reform Programme" and "2024 Stability or Convergence Programme" analyzed, with a compliance check of the 2023 fiscal result and 2024 budget with the existing 2019-version of the SGP rules, although only 3% deficit breaches will be evaluated because no debt limit or debt reduction breach can trigger an EDP in 2024. The European Commission reasoned for its continued deactivation for another year of
465-423: A "2024 National Reform Programme" and "2024 Stability or Convergence Programme" analyzed, with a compliance check of the 2023 fiscal result and 2024 budget with the existing 2019-version of the SGP rules; although only 3% deficit breaches will be evaluated - because no debt limit or debt reduction breach can trigger an EDP in 2024. The European Commission reasoned for its continued deactivation for another year of
620-442: A "3‑year backward looking period based on cyclical adjusted data". If any of the periodic checks conducted by the national fiscal council finds the budget or estimated fiscal account of the general government to be noncompliant with the deficit or debt criteria of the treaty, the state is obliged to immediately rectify the issue by implementing sufficient counteracting fiscal measures or changes to its ongoing fiscal policy for
775-425: A 126(6) report; and a deadline for the needed correction of the criteria breach - along with annual targets for the structural deficit and nominal budget balance - will be set by the simultaneous adoption of a 126(7) report. The EDP - also known as the corrective arm of the SGP, was however suspended via activation of the "general escape clause" during 2020-2023 to allow for higher deficit spending ; first due to
930-603: A European ship, prompted the commission to look into legislation against toxic waste. at that time did not even have a crime against shipping toxic waste; this led the Commissioners Franco Frattini and Stavros Dimas to put forward the idea of "ecological crimes". Their right to propose criminal law was challenged in the European Court of Justice but upheld. As of 2007, the only other criminal law proposals which have been brought forward are on
1085-622: A SGP compliance report for the scrutiny and evaluation of the European Commission and the Council of the European Union , that will present the country's expected fiscal development for the current and subsequent three years. These reports are called "stability programmes" for eurozone Member States and "convergence programmes" for non-eurozone Member States, but despite having different titles they are identical in regards of
1240-597: A budgetary imbalance created before 2020. The data in the table below are from the ordinary compliance check of all EU member states in May 2023, with outturn data for the 2022 fiscal year as they were published on the Eurostat website in April 2023, and budget values for 2023-2026 as they were reported by the submitted Stability programme or Convergence programme of each member state in April 2023. 16 out of 27 member states had
1395-506: A budgetary imbalance created before 2020. 16 out of 27 member states had a technical SGP criteria breach , when their 2022 fiscal results and 2023 budgets were analyzed in May 2023; because those breaches were exempted due to the finding of temporary and exceptional circumstances, reflected by the activation of the general escape clause, no new EDPs were opened against those member states. The EDP will be assessed again starting from 19 June 2024, where each country will have their usual set of
1550-537: A commissioner. A commissioner's portfolio can be supported by numerous DGs; they prepare proposals for them and if approved by a majority of commissioners proposals go forward to the Parliament and Council for consideration. The Commission's civil service is headed by a Secretary General . The position is currently held by Ilze Juhansone . The rules of procedure of the European Commission set out
1705-410: A common currency area. The additional regulations complement the SGP's requirement for surveillance, by enhancing the frequency and scope of scrutiny of the member state's policymaking, but do not place additional requirements on the policy itself. The degree of surveillance will depend on the economic health of the member state. Regulation 473/2013 is directed at all eurozone member states and requires
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#17327646954561860-462: A comprehensive reform of the EU fiscal framework: The proposed reform aims to strengthen public debt sustainability, promote sustainable and inclusive growth through reforms and investments, increase national ownership for fiscal plans and fiscal corrections, simplify the legal framework, move towards a greater medium-term approach to budgetary policies, and ensure more effective and coherent enforcement of
2015-421: A country does not reach its MTO, it is required in the subsequent year(s) to implement annual improvements for its structural balance equal to minimum 0.5% of GDP, although several sub-rules (including the "expenditure benchmark") has the potential slightly to alter this requirement. When Member States are in this process of improving their structural balance until it reaches its MTO, they are referred to as being on
2170-487: A country-specific Medium-Term budgetary Objective (MTO). The Fiscal Compact however introduced a more strict upper MTO-limit compared to SGP, as it now at most can be set to 0.5% of GDP for states with a debt‑to‑GDP ratio exceeding 60%, while only states with debt levels below 60% of GDP will be subject to respect an upper MTO-limit at the SGP-allowed 1.0% of GDP. The exact applying country-specific minimum MTO
2325-405: A country-specific debt sustainability risk assessment, while also respecting the requirement that the annual improvements for the structural budget balance shall be minimum 0.5% of GDP. The treaty refers to that the compliance check and calculation of sufficiently required corrections for the debt-limit and "debt brake" criteria, shall be identical with the existing operating debt rules outlined by
2480-539: A dedicated Directorate-General . The European Parliament can dissolve the College of Commissioners as a whole following a vote of no-confidence , which requires a two-thirds vote. Only the President can request the resignation of an individual Commissioner. However, individual Commissioners, by request of the council or Commission, can be compelled to retire on account of a breach of obligation(s) and if so ruled by
2635-467: A draft budgetary plan for the upcoming year to be submitted annually by 15 October, for a SGP compliance assessment conducted by the European Commission. The member state shall then await receiving the Commission's opinion before the draft budgetary plan is debated and voted for in their national parliament. The Commission will not be granted any veto right over the national parliaments potential pass of
2790-635: A duty to ensure the treaties and law are upheld, potentially by taking member states or other institutions to the Court of Justice in a dispute. In this role it is known informally as the "Guardian of the Treaties". Finally, the Commission provides some external representation for the Union, alongside the member states and the Common Foreign and Security Policy , representing the Union in bodies such as
2945-651: A fiscal budget, but will have the role to issue warnings in advance to the national parliaments, if the proposed draft budget is found to compromise the debt and deficit rules of the SGP. Regulation 472/2013 is concerned with the subgroup of eurozone member states experiencing or being threatened by financial instability, which is understood to be the case if the state has an ongoing Excessive Imbalance Procedure (EIP) or receives any macroeconomic financial assistance from EFSM / EFSF / ESM / IMF /other bilateral basis. These member states are made subject to even more in depth and frequent "enhanced surveillance", in order to prevent
3100-427: A fiscal council), with a mandate to verify all statistical data and fiscal budgets of the government are in compliance with the agreed fiscal rules, and ensure the proper functioning of the automatic correction mechanism. The treaty defines a balanced budget exactly the same way the SGP did, as a government budget deficit not exceeding 3.0% of the gross domestic product (GDP), and a structural deficit not exceeding
3255-400: A greater degree of politicisation within the Commission . The commission is divided into departments known as Directorates-General (DGs) that can be likened to departments or ministries . Each covers a specific policy area such as agriculture or justice and citizens' rights or internal services such as human resources and translation and is headed by a director-general who is responsible to
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#17327646954563410-635: A likely candidate (in general, the elected candidate is determined, according to the results of the European election , as winner of the internal election into the dominant European party known as " spitzenkandidat "). While the European People's Party had won the European Parliament election, they had performed worse than expected and therefore nominated von der Leyen instead of Manfred Weber , their original candidate. On 9 September,
3565-518: A low-inflation policy, which had been an important part of the German economy's robust performance since the 1950s. The German government hoped to ensure the continuation of that policy through the SGP, which would ensure the prevalence of fiscal responsibility, and limit the ability of governments to exert inflationary pressures on the European economy. As such, it was also described to be a key tool for
3720-613: A majority (17,664) of staff being based in the country. Communication with the press is handled by the Directorate-General Communication . The commission's chief spokesperson is Eric Mamer who holds the midday press briefings, commonly known as the "Midday Presser". It takes place every weekday in the commission's press room at the Berlaymont where journalists may ask questions to the Commission officials on any topic and legitimately expect to get an "on
3875-565: A member state of the eurozone can ultimately also be issued economic sanctions. The pact was outlined by a European Council resolution in June 1997, and two Council regulations in July 1997. The first regulation "on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies", known as the "preventive arm", entered into force 1 July 1998. The second regulation "on speeding up and clarifying
4030-404: A member state will be declared to be in abeyance with the debt brake rule. Otherwise the Commission will declare existence of an "apparent breach" of the debt-criterion by the publication of a 126(3) report , which shall investigate if the "apparent breach" was "real" after having taken a range of allowed exemptions into consideration. Provided no special "breach exemptions" can be found to exist by
4185-417: A new "debt reduction rule" , commonly referred to as the "debt brake rule" , and legislatively referred to as the "1/20 numerical benchmark for debt reduction" . The new debt reduction rule entered into force at the EU level on 13 December 2011. If just one of the four quantitative debt-requirements (including the first one requesting the debt-to-GDP ratio to be below 60% in the latest recorded fiscal year)
4340-616: A number of Vice-presidents from among the commissioners. Vice-presidents manage policy areas involving multiple Commissioners. One of these includes the High Representative , who is automatically one of the Vice-presidents ex officio rather than by appointment and confirmation. Commonly referred to as the 'HR/VP' position, the High Representative also coordinates commissioners' activities involving
4495-600: A permanent facility was created two years later with the establishment of the European Stability Mechanism (ESM). The latter consists of an international treaty signed on 2 February 2012 by Eurozone Members only. Ailing Members receive financial aid in the form of low-interest loans whose disbursement is attached policy conditionalities. The latter usually consist in Macroeconomic Adjustment Programs (MAPs) whose adoption
4650-570: A possible sovereign debt crises to emerge. In the post-crisis period, the legal debate on EMU largely focused on assessing the effects of both the Six- and the Two-Pack on the SGP. Most scholars admit that a considerable improvement occurred in the field of budgetary enforcement, especially for what concerns the imposition of dissuasive sanctions upon noncompliant Members. However, critical positions generally outnumber positive ones. Many have criticised
4805-601: A result. In 2008, Paul van Buitenen (the former auditor known from the Santer Commission scandal) accused the European Anti-Fraud Office (OLAF) of a lack of independence and effectiveness. Barroso's first Commission term expired on 31 October 2009. Under the Treaty of Nice, the first Commission to be appointed after the number of member states reached 27 would have to be reduced to "less than
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4960-481: A safety margin towards continuously respecting the government's 3% deficit limit" . The first part of this MTO, was interpreted by the Commission Staff Service to mean continuously achievement each year throughout the business cycle of a "cyclically-adjusted budget balance net of one-off and temporary measures" (also referred to as the "structural balance") at minimum 0.0% . In 2000, the second part
5115-471: A slower adjustment path towards respecting the deficit and debt limit of the SGP, and extend the maximum duration of an Excessive Deficit Procedure from four to seven years if certain reform requirements are respected. The new revised rules will be finally adopted by the European Parliament and Council of Ministers before the 2024 European Parliament election ; and fully applied starting from
5270-473: A source of competition between areas of the Commission and Commissioners themselves. This also leads to an unusually high number of press releases, and is seen as a unique product of the EU's political set-up. There is a larger press corps in Brussels than Washington, D.C.; in 2020, media outlets in every Union member-state had a Brussels correspondent . Although there has been a worldwide cut in journalists,
5425-441: A technical "SGP criteria breach" when their 2022 fiscal results and 2023 budgets were analyzed in May 2023, but because those breaches were exempted due to the finding of temporary and exceptional circumstances - reflected by the activation of the general escape clause, no new EDPs were opened against those member states. The EDP will be assessed again starting from 19 June 2024, where each country will have their usual set of
5580-420: A technical deficit-based "SGP criteria breach" as per their 2023 fiscal results published by Eurostat in April 2024. The European Commission will await receiving the budget values for 2024-2027 via the submitted Stability programme or Convergence programme of each member state, before deciding whether or not to open an EDP for the concerned member states. The 2024 SGP compliance table below will be updated with
5735-427: A temporary exceptional event outside its control with major budgetary impact, will be exempted from the requirement to deliver a fiscal automatic correction for as long as it lasts. The treaty states that the signatories shall attempt to incorporate the treaty into EU's legal framework, on the basis of an assessment of the experience with its implementation, by 1 January 2018 at the latest. In December 2017,
5890-484: A whole. If the European Parliament submits a negative opinion of a candidate, the President must either reshuffle them or request a new candidate from the member state to avoid the college's outright rejection by the European Parliament. Once the college is approved by parliament, it is formally appointed following a QMV vote by the European Council . Following the college's appointment, the President appoints
6045-443: A yearly Country-Specific Recommendation for fiscal policy actions to ensure a full compliance with the SGP also in the medium-term. If a member state breaches the SGP's outlined maximum limit for government deficit and debt, the surveillance and request for corrective action will intensify through the declaration of an Excessive Deficit Procedure (EDP); and if these corrective actions continue to remain absent after multiple warnings,
6200-571: Is an agreement, among all the 27 member states of the European Union (EU), to facilitate and maintain the stability of the Economic and Monetary Union (EMU). Based primarily on Articles 121 and 126 of the Treaty on the Functioning of the European Union , it consists of fiscal monitoring of member states by the European Commission and the Council of the European Union , and the issuing of
6355-410: Is calculated by adjusting the achieved general government balance (in % of GDP) compared to each year's relative economic growth position in the business cycle (referred to as the " output gap "), which is found by subtraction of the achieved GDP growth with the potential GDP growth . So, if a year is recorded with average GDP growth in the business cycle (equal to the potential GDP growth rate),
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6510-434: Is complied with: b t ≤ {\displaystyle \scriptscriptstyle \leq } 60% or b t ≤ {\displaystyle \scriptscriptstyle \leq } bb t or b* t ≤ {\displaystyle \scriptscriptstyle \leq } bb t or b t+2 ≤ {\displaystyle \scriptscriptstyle \leq } bb t+2 , then
6665-429: Is deemed necessary to fix the imbalances which gave rise to the original instability. Bailout programs do not constitute enforcement procedure stricto sensu . However, since financial support always entails compliance with several budgetary and economic conditionalities, they can be construed as a sort of ex post enforcement mechanism. On 26 April 2023, the Commission presented three legislative proposals to implement
6820-437: Is divided into departments known as Directorates-General (DGs) that can be likened to departments or ministries each headed by a Director-General who is responsible to a Commissioner. Currently, there is one member per member state , but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state. The Commission President (currently Ursula von der Leyen )
6975-619: Is expected to vote on the new Regulation on the preventive arm in April 2024. After the Parliament's approval, the Council of Ministers is expected to adopt the new Regulation, adopt the Regulation amending the corrective arm, and adopt the Directive amending the Directive on national budgetary frameworks. In the meantime, as a new legal framework is not yet in place, the current legal framework continues to apply in spring 2024. The reform
7130-508: Is issued by the Commission in June, then the EDP is expected to be formally adopted and opened by the Council in July. Across the first seven years, since the entry into force of the Stability and Growth Pact, all EU Member States were required to strive towards a common MTO being "to achieve a budgetary position of close to balance or in surplus over a complete business cycle – while providing
7285-495: Is not binding. The commission's powers in proposing law have usually centred on economic regulation. It has put forward a large number of regulations based on a " precautionary principle ". This means that pre-emptive regulation takes place if there is a credible hazard to the environment or human health: for example on tackling climate change and restricting genetically modified organisms . The European Commission has committed EU member states to carbon neutrality by 2050. This
7440-593: Is not such a mirror in creating a European civil society . The Treaty of Lisbon may go some way to resolving the perceived deficit in creating greater democratic controls on the commission, including enshrining the procedure of linking elections to the selection of the Commission president. Historically, the commission had indeed been seen as a technocratic expert body which, akin with institutions such as independent central banks , deals with technical areas of policy and therefore ought to be removed from party politics. From this viewpoint, electoral pressures would undermine
7595-615: Is opposed to weighting regulations for their effect on the economy. Thus, the Commission often proposes stricter legislation than other countries. Owing to the size of the European market, this has made EU legislation an important influence in the global market. On February 23, 2022, the European Commission published the Corporate Sustainability Due Diligence Directive which establishes a framework of due diligence for companies to identify actual or potential risks and harm to human rights and
7750-552: Is proposed by the European Council (the 27 heads of state/governments) and elected by the European Parliament . The Council of the European Union then nominates the other members of the Commission in agreement with the nominated President, and the 27 members as a team are then subject to a vote of approval by the European Parliament. The current Commission is the Von der Leyen Commission , which took office in December 2019, following
7905-529: Is recalculated and set by the European Commission for each country every third year, and might be set at levels stricter than the greatest latitude permitted by the treaty. In line with the existing SGP rules, the general government budget balance of a member state will be in compliance with the TSCG deficit criteria, either if its found to be within the country-specific MTO-limit, or if its found to display "rapid progress" on its "adjustment path" towards respecting
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#17327646954568060-635: Is the primary executive arm of the European Union (EU). It operates as a cabinet government , with a number of members of the Commission ( directorial system , informally known as "Commissioners") corresponding to two thirds of the number of Member States, unless the European Council, acting unanimously, decides to alter this number. The current number of Commissioners is 27, including the President. It includes an administrative body of about 32,000 European civil servants. The commission
8215-608: The COVID-19 pandemic arriving as an extraordinary circumstance, and later during 2022-2023 due to the Russian invasion of Ukraine having sent energy prices up, defence spending up and budgetary pressures up across the EU. Despite the EDP suspension in 2020-2023, Romania still experienced the opening of an EDP in April 2020; but only because of existence of a deficit limit breach being recorded already for its 2019 fiscal year, which required corrective action across 2020–2024, to remedy
8370-686: The Council of the European Union declared a list of candidate-commissioners, which are sent to Brussels by the governments of each member state and which had to be officially approved by the parliament. In September 2024, Von der Leyen revealed her new team of European Commissioners, marking a shift to a "leaner" and more interconnected structure. The lineup featured six executive vice-presidents (EVPs) from France, Finland, Estonia, Italy, Romania, and Spain. These EVPs, including Teresa Ribera and Stéphane Séjourné , were tasked with overseeing various clusters of Commissioners and steering key policy areas such as prosperity, security, and democracy. Raffaele Fitto
8525-603: The Covid-19 pandemic arriving as an extraordinary circumstance, and later during 2022-2023 due to the Russian invasion of Ukraine having sent energy prices up, defence spending up and budgetary pressures up across the EU . Despite the EDP suspension in 2020-2023, Romania still experienced the opening of an EDP in April 2020; but only because of existence of a deficit limit breach being recorded already for its 2019 fiscal year, which required corrective action across 2020-2024, to remedy
8680-595: The EU legal framework , all treaty provisions function as an extension to pre-existing EU regulations, utilising the same reporting instruments and organisational structures already created within the EU in the three areas: Budget discipline enforced by Stability and Growth Pact (extended by Title III ), Coordination of economic policies (extended by Title IV ), and Governance within the EMU (extended by Title V ). The full treaty applies for all eurozone member states. A voluntary opt-in for non-eurozone member states to be bound by
8835-588: The European Atomic Energy Community (Euratom). However, their executives were called "Commissions" rather than "High Authorities". The reason for the change in name was the new relationship between the executives and the Council . Some states, such as France, expressed reservations over the power of the High Authority and wished to limit it by giving more power to the Council rather than the new executives. Louis Armand led
8990-442: The European Commission proposed a new Council Directive to incorporate the main fiscal provisions of the TSCG (all articles of its Title III - except article 7 ) into EU law. The ECB proposed several clarifying amendments to this proposed Council Directive in May 2018, while noting a potential adoption of this Directive should only happen together with an amendment of the pre-existing Council Regulation 1466/97, in order to reflect
9145-411: The European Parliament and Council of Ministers before the 2024 European Parliament election ; and fully applied starting from the presented drafts for 2025 budgets. The first "national medium-term fiscal-structural plans" guided by the new revised fiscal rules, will cover the four-year period 2025-2028, and need to be submitted by each member state by 20 September 2024. The European Parliament
9300-594: The European Parliament elections in May of the same year . The European Commission derives from one of the five key institutions created in the supranational European Community system, following the proposal of Robert Schuman , French Foreign Minister, on 9 May 1950. Originating in 1951 as the High Authority in the European Coal and Steel Community , the commission has undergone numerous changes in power and composition under various presidents, involving three Communities. The first Commission originated in 1951 as
9455-554: The High Representative by the European Council, each Commissioner is proposed by their member state (except for those states who provided the President and High Representative) in consultation with the Commission President and the Council of the European Union , who formally adopts the list of candidates. The President's proposed College of Commissioners is then subject to hearings at the European Parliament which will question them and then vote on their suitability as
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#17327646954569610-611: The World Trade Organization . It is also usual for the President to attend meetings of the G7 . The commission is composed of a "College of Commissioners " of 27 members, including the President and vice-presidents. Even though each member is nominated on the basis of the suggestions made by the national governments, one per state, they do not represent their state in the commission. In practice, however, they do occasionally press for their national interest. Once proposed,
9765-401: The environment as well as establishing processes and standards to diminish these risks. The Directive is expected to be officially adopted in 2024 and then be incorporated into domestic laws within two years by all of the European Union member states. Recently the commission has moved into creating European criminal law . In 2006, a toxic waste spill off the coast of Côte d'Ivoire , from
9920-614: The first Commission of Euratom . Walter Hallstein led the first Commission of the EEC , holding the first formal meeting on 16 January 1958 at the Château of Val-Duchesse . It achieved agreement on a contentious cereal price accord, as well as making a positive impression upon third countries when it made its international debut at the Kennedy Round of General Agreement on Tariffs and Trade (GATT) negotiations. Hallstein notably began
10075-418: The intellectual property rights directive , and on an amendment to the 2002 counter-terrorism framework decision, outlawing terrorism‑related incitement, recruitment (especially via the internet) and training. Once legislation is passed by the Council and Parliament, it is the commission's responsibility to ensure it is implemented. It does this through the member states or through its agencies . In adopting
10230-416: The twopack reform entered into force in 2013. If just one of the two criteria is not complied with when conducting the first numerical check, and the following investigative article 126(3) report of the Commission concludes this "apparent breach" was non-exempted, then there will be the opening of an Excessive Deficit Procedure (EDP) against the concerned member state - declared by the Council's adoption of
10385-477: The "adjustment path", and they shall annually report an updated target year for when they expect to reach their MTO. It is the responsibility of each Member State through a note in their annual Convergence/Stability report, to select their contemporary MTO at a point being equal to or above the "minimum MTO" calculated every third year by the European Commission (most recently in October 2012 ). The "minimum MTO" that
10540-414: The "nationally selected MTO" needs to respect, is equal to the strictest of the following three limits (which since a method change in 2012 now automatically is rounded to the lowest 1 ⁄ 4 -value , if calculated to a figure with the last two digits after punctuation differing from 00/25/50/75, i.e. -0.51% will be rounded to -0.75% ) : European Commission The European Commission ( EC )
10695-408: The 126(3) report (i.e. finding the debt breach was solely caused by "structural improving pension reforms" or "payment of bailout funds to financial stability mechanisms" or "payment of national funds to the new European Fund for Strategic Investments " or "appearance of an EU-wide recession" ), then the Commission will recommend the Council to open a debt-breached EDP against the member state by
10850-455: The Council decided otherwise. Membership would rotate equally and no member state would have more than one Commissioner. However, the treaty was rejected by voters in Ireland in 2008 with one main concern being the loss of their Commissioner. Hence a guarantee given for a rerun of the vote was that the council would use its power to amend the number of Commissioners upwards. However, according to
11005-457: The EC and into the dispirited Brussels Commission. In his first term, from 1985 to 1988, he rallied Europe to the call of the single market, and when appointed to a second term he began urging Europeans toward the far more ambitious goals of economic, monetary, and political union". The successor to Delors was Jacques Santer . As a result of a fraud and corruption scandal, the entire Santer Commission
11160-416: The EU (the European Council also holds individual national executive powers). However, it is the Commission that currently holds most of the executive power over the European Union . The Commission differs from the other institutions in that it alone has legislative initiative in the EU. Only the commission can make formal proposals for legislation: they cannot originate in the legislative branches. Under
11315-512: The EU Treaty itself. The fiscal discipline is ensured by the SGP by requiring each Member State, to implement a fiscal policy aiming for the country to stay within the limits on government deficit (3% of GDP) and debt (60% of GDP); and in case of having a debt level above 60% it should each year decrease with a satisfactory pace towards a level below. As outlined by the "preventive arm" regulation, all EU member states are each year obliged to submit
11470-420: The EU" . Any non-exempted breach of either the deficit or debt criteria of the Stability and Growth Pact declared by a 126(3) report, will however result in the publication of a 126(6) report and 126(7) report shortly afterwards, in which the Council will be recommended to open an EDP and set a deadline for when the breaching of the criteria shall have been corrected by the member state. If any EDP recommendation
11625-405: The EU, the legitimacy of the commission is mainly drawn from the vote of approval that is required from the European Parliament, along with its power to dismiss the body. Eurosceptics have therefore raised the concern of the relatively low turnout (often less than 50%) in elections for the European Parliament since 1999 . While that figure may be higher than that of some national elections, including
11780-600: The European Commission. Juncker appointed his previous campaign director and head of the transition team, Martin Selmayr , as his chief of cabinet. During the Juncker presidency Selmayr has been described as "the most powerful EU chief of staff ever." In 2019, Ursula von der Leyen was appointed as President of the European Commission. She submitted the guidelines of her policy to the European Parliament on 16 July 2019, following her confirmation. She had not been considered
11935-529: The European Court of Justice (Art. 245 and 247, Treaty on the Functioning of the European Union). The Barroso Commission took office in late 2004 after being delayed by objections from the Parliament, which forced a reshuffle. In 2007 the Commission increased from 25 to 27 members with the accession of Romania and Bulgaria who each appointed their own Commissioners. With the increasing size of
12090-552: The European Union, which represents governments, the European Parliament, which represents citizens , the Economic and Social Committee , which represents organised civil society, and the Committee of the Regions , which represents local and regional authorities. Through Article 17 of the Treaty on European Union the commission has several responsibilities: to develop medium-term strategies; to draft legislation and arbitrate in
12245-500: The Fiscal Compact) into their national legislation. In particular, the general government budget has to be in balance or surplus, under the treaty's definition. As a novelty, an automatic correction mechanism has to be established by written law in order to correct potential significant deviations. Establishment is also required of a national independent monitoring institution to provide fiscal surveillance (commonly referred to as
12400-541: The Parliament once again asserted itself in objecting to the proposed membership of the Barroso Commission. Owing to this opposition, Barroso was forced to reshuffle his College before taking office. The Barroso Commission was also the first full Commission since the enlargement in 2004 to 25 members; hence, the number of Commissioners at the end of the Prodi Commission had reached 30. As a result of
12555-584: The President delegates portfolios among each of the members. The power of a Commissioner largely depends upon their portfolio, and can vary over time. For example, the Education Commissioner has been growing in importance, in line with the rise in the importance of education and culture in European policy-making. Another example is the Competition Commissioner , who holds a highly visible position with global reach. Before
12710-403: The President of the European Commission, and although they are still proposed by the European Council; the European Parliament " elects " candidates to the office, rather than " approves " them as under the Treaty of Nice. The Barroso Commission is, in reaction to Euroscepticism , said to have toned down enforcement to increase integration. In 2014, Jean-Claude Juncker became President of
12865-421: The President of the European Commission. It has been noted by one researcher that the press releases issued by the commission are uniquely political. A release often goes through several stages of drafting which emphasises the role of the commission and is used "for justifying the EU and the Commission" increasing their length and complexity. Where there are multiple departments involved a press release can also be
13020-424: The Stability and Growth Pact. The outlined debt-limit and debt brake criteria established four ways for a member state to comply with the debt rules, either by simply having a gross debt level below 60% of GDP, or if above 60% of GDP it then needs to be found "sufficiently diminishing" by specific calculation formulas, either over a "3‑year forward looking period" or a "3‑year backward looking period" or
13175-412: The TSCG fiscal rules. As the content of the Directive does not cover all articles of the TSCG, it will however not replace it, but continue to coexist with TSCG. The proposed Council Directive was never adopted, but the latest 2024 reform is a new attempt to integrate the TSCG into EU law, that will likely succeed. Several secondary legislative acts were implemented to strengthen both the preventive and
13330-468: The TSCG had introduced a stricter upper limit for the structural deficit (MTO) at 0.5% of GDP for member states indebted by a debt-to-GDP ratio above 60%, which was a stricter limit than the maximum 1% of GDP being allowed by Council Regulation 1466/97 for all eurozone member states regardless of their debt-to-GDP ratio. If the Council Directive is adopted, it will align the EU fiscal rules with
13485-423: The Treaty of Lisbon, no legislative act is allowed in the field of the Common Foreign and Security Policy . In the other fields, the Council and Parliament can request legislation; in most cases the Commission initiates on the basis of these proposals. This monopoly is designed to ensure coordinated and coherent drafting of EU law . This monopoly has been challenged by some who claim the Parliament should also have
13640-492: The breach in example was solely caused by "extra expenditures caused by implementation of structural improving pension reforms" or "payment of bailout funds to financial stability mechanisms" or "payment of national funds to the European Fund for Strategic Investments " or "appearance of an EU-wide recession" or "other temporary and extraordinary expences specifically allowed by the currently agreed fiscal policy of
13795-581: The commission (66%) and concerning lack of transparency (36%). In 2010 the commission was sued for blocking access to documents on EU biofuel policy. This happened after media accused the Commission of blocking scientific evidence against biofuel subsidies. Lack of transparency, unclear lobbyist relations, conflicts of interests and excessive spending of the commission was highlighted in a number of reports by internal and independent auditing organisations. It has also been criticised on IT-related issues, particularly with regard to Microsoft . In September 2020,
13950-521: The commission can assume office, the college as a whole must be approved by the Parliament. Commissioners are supported by their personal cabinet who give them political guidance, while the Civil Service (the DGs, see below) deal with technical preparation. The President of the Commission is first proposed by the European Council , following a Qualified Majority Vote (QMV), taking into account
14105-420: The commission's lack of power over areas like foreign policy – that power is held by the Council of the European Union and the European Council, which some analysts have described as another executive. Considering that under the Treaty of Lisbon, the European Council has become a formal institution with the power of appointing the commission, it could be said that the two bodies hold the executive power of
14260-520: The commission's operation and organisation. There has been criticism from a number of people that the highly fragmented DG structure wastes a considerable amount of time in turf wars as the different departments and Commissioners compete with each other. Furthermore, the DGs can exercise considerable control over a Commissioner with the Commissioner having little time to learn to assert control over their staff. According to figures published by
14415-510: The commission's role as an independent regulator. Defenders of the Commission point out that legislation must be approved by the Council in all areas (the ministers of member states) and the European Parliament in most areas before it can be adopted, thus the amount of legislation which is adopted in any one country without the approval of its government is limited. In 2009 the European ombudsman published statistics of citizens' complaints against EU institutions, with most of them filed against
14570-555: The commission, 23,803 persons were employed by the commission as officials and temporary agents in September 2012. In addition to these, 9230 "external staff" (e.g. Contractual agents, detached national experts, young experts, trainees etc.) were employed. The single largest DG is the Directorate-General for Translation , with a 2309-strong staff, while the largest group by nationality is Belgian (18.7%), probably due to
14725-522: The commission, Barroso adopted a more presidential style of control over the college, which earned him some criticism. However, under Barroso, the commission began to lose ground to the larger member states as countries such as France, the UK and Germany sought to sideline its role. This has increased with the creation of the President of the European Council under the Treaty of Lisbon . There has also been
14880-416: The compliance with the new debt brake rule by the end of the transition period. The Twopack consists of two Regulations that entered into force on 30 May 2013. They are exclusively applicable to eurozone member states and introduced additional coordination and surveillance of their budgetary processes. They were deemed necessary given the higher potential for spillover effects of budgetary policies in
15035-542: The conferral upon the Union of penetrating surveillance competences. The new framework consists of a patchwork of normative acts, both within and outside the formal EU edifice. Consequently, the system is now much more complex. The Treaty on Stability, Coordination and Governance (TSCG), commonly labeled as European Fiscal Compact , was signed on 2 March 2012 by all eurozone member states and eight other EU member states and entered into force on 1 January 2013. As of today, all current 27 EU member states ratified or acceded to
15190-412: The considerable press releases and operations such as Europe by Satellite and EuroparlTV leads many news organisations to believe they can cover the EU from these source and news agencies . The Commission shut down Presseurop on 20 December 2013, though the decision was criticised. As the commission is the executive branch, candidates are chosen individually by the 27 national governments. Within
15345-465: The consolidation of European law and started to have a notable impact on national legislation. Little heed was taken of his administration at first but, with help from the European Court of Justice , his Commission stamped its authority solidly enough to allow future Commissions to be taken more seriously. In 1965, however, accumulating differences between the French government of Charles de Gaulle and
15500-605: The content. After the reform of the SGP in 2005, these programmes have also included the Medium-Term budgetary Objectives (MTO), being individually calculated for each Member State as the medium-term sustainable average-limit for the country's structural deficit , and the Member State is also obliged to outline the measures it intends to implement to attain its MTO. If the EU Member State does not comply with both
15655-467: The corrective arms of the SGP. One must distinguish between the 2011 Sixpack and the 2013 Twopack. The Sixpack consists of five Regulations and one Directive, which all entered into force on 13 December 2011, although compliance with the Directive was only required by 31 December 2013. The corrective arm of the SGP (Regulation 1467/97) was amended by Regulation 1177/2011. By an entirely rewritten "article 2", this amendment introduced and operationalised
15810-453: The country-specific "Minimal Benchmark" criteria. The last round under this assessment scheme took place in Spring 2005, while all subsequent assessments were conducted according to a new reformed scheme – introducing the concept of a single country-specific MTO as the overall steering anchor for the fiscal policy. In order to ensure long-term compliance with the SGP deficit and debt criteria,
15965-490: The country-specific MTO-limit. On this point the TSCG is only stricter than SGP by using the phrase "rapid progress" (without quantifying this term), while the SGP regulation opted instead to use the phrase "sufficient progress". In line with the existing SGP rules, the European Commission will for each country set the available time-frame for the "adjustment path" until the MTO-limit shall be achieved, based on consideration of
16120-564: The crisis, some Members lost access to financial markets to refinance their debt. Clearly, the SGP framework proved not enough to ensure the stability of the Eurozone. For this reason, a bailout facility was deemed necessary to face such extraordinary challenges. The first attempt was the European Financial Stability Facility (EFSF), specifically created in 2010 to help Greece, Portugal, and Ireland. However,
16275-473: The debt limit or debt reduction rule in 2023-2024: "that compliance with the debt reduction benchmark could imply a too demanding frontloaded fiscal effort that would risk to jeopardise economic growth. Therefore, in the view of the Commission, compliance with the debt reduction benchmark is not warranted under the prevailing economic conditions." 10 out of 27 member states (Belgium, Czechia, France, Hungary, Italy, Malta, Poland, Romania, Slovakia and Spain) had
16430-457: The debt limit or debt reduction rule in 2023–2024, stating "that compliance with the debt reduction benchmark could imply a too demanding frontloaded fiscal effort that would risk to jeopardise economic growth. Therefore, in the view of the Commission, compliance with the debt reduction benchmark is not warranted under the prevailing economic conditions." In February 2024, the EU approved a revised set of SGP rules , that will introduce acceptance of
16585-420: The debt reduction requirement of the new debt brake rule three years after its EDP is abrogated. This special transitional "satisfactory pace" is calculated by the Commission individually for each of the concerned member states, and is published to them in form of a figure for: The annually required Minimum Linear Structural Adjustment (MLSA) of the deficit in each of the 3 years in the transition period – ensuring
16740-465: The deficit criteria. The final assessment for compliance with the SGP criteria of each country, will be published by the European Commission on 19 June 2024, in the form of an article 126(3) assessment report investigating if the "apparent breach" was "real" (indicated by a red color) or can be "exempted" (indicated by a yellow color). An article 126(3) assessment report can declare an apparent numerical breach "exempted" and hereby "accepted", if
16895-451: The deficit limit and the debt limit , a so-called "Excessive Deficit Procedure" (EDP) is initiated along with a deadline to comply, which basically includes and outlines an "adjustment path towards reaching the MTO". This procedure is outlined by the "dissuasive arm" regulation. The SGP was initially proposed by German finance minister Theo Waigel in the mid-1990s. Germany had long maintained
17050-509: The duration of the slow growth period and the possibility that the deficit is related to productivity-enhancing procedures. The pact is part of a set of Council Regulations, decided upon the European Council Summit 22–23 March 2005. The 2010 European sovereign debt crisis proved the serious shortcomings embedded in the SGP. On one hand, fiscal wisdom was not spontaneously followed by the majority of Eurozone Members during
17205-518: The early-2000s expansion cycle. On the other hand, the EDP was not duly carried out, when necessary, as the cases of France and Germany clearly show. In order to stabilise the Eurozone, Member States adopted an extensive package of reforms, aiming at straightening both the substantive budgetary rules and the enforcement framework. The result was a complete revision of the SGP. The measures adopted soon proved highly controversial, because they implied an unprecedented curtailment of national sovereignty and
17360-617: The euro. In response to the scandal, the European Anti-Fraud Office (OLAF) was created. Following Santer, Romano Prodi took office. The Amsterdam Treaty had increased the commission's powers and Prodi was dubbed by the press as something akin to a Prime Minister. Powers were strengthened again; the Treaty of Nice , signed in 2001, gave the Presidents more power over the composition of the College of Commissioners. José Manuel Barroso became president in 2004:
17515-444: The executive power of the EU was held by the council: it conferred on the Commission such powers for it to exercise. However, the council was allowed to withdraw these powers, exercise them directly, or impose conditions on their use. This aspect has been changed by the Treaty of Lisbon, after which the Commission exercises its powers just by virtue of the treaties. Powers are more restricted than most national executives, in part due to
17670-626: The existing economic governance framework of the European Union. In February 2024, the trilogue negotiations between the co-legislators ended with a provisional political agreement on the Commissions proposal for a comprehensive reform of the SGP rules. The reform will introduce acceptance of a slower adjustment path towards respecting the deficit and debt limit of the SGP, and extend the maximum duration of an Excessive Deficit Procedure from four to seven years if certain reform requirements are respected. The new revised rules will be finally adopted by
17825-410: The external relations and defence cooperation of the European Union. The von der Leyen Commission also created the position of more senior Executive Vice-presidents , appointed from the three largest political groups in the European Parliament. Unlike the other vice-presidents, their mission is to manage the incumbent Commission's top priority policy areas, for which they receive additional support from
17980-630: The first enlargement to the north in 1973. With that enlargement, the College of Commissioners membership increased to thirteen under the Ortoli Commission (the United Kingdom as a large member was granted two Commissioners), which dealt with the enlarged community during economic and international instability at that time. The external representation of the Community took a step forward when President Roy Jenkins , recruited to
18135-403: The fiscal and economic provisions of the treaty (Title III+IV) has been declared by Denmark, Bulgaria and Romania, while this main part of the treaty currently does not apply for Sweden, Poland, Hungary and Czech Republic - until the point of time they either declare otherways or adopt the euro. Member states bound by Title III of the TSCG have to transpose these fiscal provisions (referred to as
18290-542: The fiscal rules. As per legal assessment of ECB, the Commissions reform proposals also aim to integrate the Title III articles of the European Fiscal Compact (TSCG) , and wherever provisions would be different this does not necessitate the subsequent amendment or repeal of the TSCG, because Article 2 of the TSCG ensures that the TSCG provisions will always apply and be interpreted in accordance with
18445-417: The formal EDP abrogation then taking place in 2016. During the years where the 23 member states are exempted from complying with the new debt brake rule, they are still obliged to comply with the old debt brake rule that requires the debt-to-GDP ratios in excess of 60% to be "sufficiently diminished", meaning that it must approach the 60% reference value at a "satisfactory pace" ensuring it will succeed to meet
18600-435: The formula of one member for small states and two for larger states. The Rey Commission completed the Community's customs union in 1968 and campaigned for a more powerful, elected, European Parliament . Despite Rey being the first President of the combined communities, Hallstein is seen as the first President of the modern Commission. The Malfatti and Mansholt Commissions followed with work on monetary co-operation and
18755-408: The government accounts throughout the long-term (calculated on basis of both future potential GDP growth , future cost of government debt, and future increases in age-related costs). The structural balance is calculated by the European Commission as the cyclically adjusted balance minus "one-off measures" (i.e. one-off payments due to reforming a pension scheme ). The cyclically adjusted balance
18910-399: The growing complexity of the enforcement procedures. The reform process had to reconcile a strong tightening of the EDP with the pressure for wider escape clauses. The tension between these opposite trends fostered the developments of complicated assessment criteria, often translated in sophisticated mathematical formulas. This not only induces confusion in the overall framework, but also makes
19065-451: The implementation of the excessive deficit procedure", sometimes referred to as the "dissuasive arm" but commonly known as the "corrective arm", entered into force 1 January 1999. The purpose of the pact was to ensure that fiscal discipline would be maintained and enforced in the EMU. All EU member states are automatically members of both the EMU and the SGP, as this is defined by paragraphs in
19220-476: The increase in the number of states, the Amsterdam Treaty triggered a reduction in the number of Commissioners to one per state, rather than two for the larger states. Allegations of fraud and corruption were again raised in 2004 by former chief auditor Jules Muis. A Commission officer, Guido Strack , reported alleged fraud and abuses in his department in the years 2002–2004 to OLAF, and was fired as
19375-400: The latest parliamentary elections (any person from the largest party can be picked ); that candidate then faces a formal election in the European Parliament . Thus this serves as a form of indirect election . If the European Parliament fails to elect the candidate, the European Council shall propose another within one month. Following the selection of the President, and the appointment of
19530-492: The latest data, as soon as the 2024 stability/convergence programme has been published for each country. The colors used to indicate compliance with the SGP criteria, are only preliminary selected based on whether the reported fiscal data exceeds the criteria limits after taking the Commission's latest fiscal policy statements into consideration exempting all debt-related breaches, but without taking any additional factors or subcriteria into consideration when assessing compliance with
19685-404: The legislative process; to represent the EU in trade negotiations; to make rules and regulations, for example in competition policy; to draw up the budget of the European Union ; and to scrutinise the implementation of the treaties and legislation. The rules of procedure of the European Commission set out the commission's operation and organisation. Before the Treaty of Lisbon came into force,
19840-490: The member states adopting the euro, to ensure that they did not only meet the Maastricht convergence criteria at the time of adopting the euro but kept on complying with the fiscal criteria for the following years. The Excessive Deficit Procedure (EDP), also known as the corrective arm of the SGP, was suspended via activation of the "general escape clause" during 2020–2023 to allow for higher deficit spending ; first due to
19995-537: The member states have since the SGP-reform in March 2005 striven towards achieving their country-specific Medium-Term budgetary Objective (MTO). The MTO is the set limit, that the structural balance relative to GDP needs to equal or be above for each year in the medium-term. Each state selects its own MTO, but it needs to equal or be better than a calculated minimum requirement (Minimum MTO) ensuring sustainability of
20150-610: The most 'dynamic' leader until Jacques Delors . The three bodies, collectively named the European Executives , co-existed until 1 July 1967 when, under the Merger Treaty , they were combined into a single administration under President Jean Rey . Owing to the merger, the Rey Commission saw a temporary increase to 14 members—although subsequent Commissions were reduced back to nine, following
20305-409: The necessary technical measures, the commission is assisted by committees made up of representatives of member states and of the public and private lobbies (a process known in jargon as " comitology "). Furthermore, the commission is responsible for the implementation of the EU budget , ensuring, along with the Court of Auditors , that EU funds are correctly spent. In particular the commission has
20460-651: The nine-member " High Authority " under President Jean Monnet (see Monnet Authority ). The High Authority was the supranational administrative executive of the new European Coal and Steel Community (ECSC). It took office first on 10 August 1952 in Luxembourg City. In 1958, the Treaties of Rome had established two new communities alongside the ECSC: the European Economic Community (EEC) and
20615-523: The number of Member States". The exact number of Commissioners was to be decided by a unanimous vote of the European Council , and membership would rotate equally between member states. Following the accession of Romania and Bulgaria in January 2007, this clause took effect for the next Commission. The Treaty of Lisbon, which came into force on 1 December 2009, mandated a reduction of the number of commissioners to two-thirds of member-states from 2014 unless
20770-594: The off-year elections of the United States Congress , the fact that there are no direct elections for the position of Commission President calls the position's legitimacy into question in the eyes of some Eurosceptics. The fact that the commission can directly decide (albeit with oversight from specially formed 'comitology committees' ) on the shape and character of implementing legislation further raises concerns about democratic legitimacy. Even though democratic structures and methods are changing there
20925-570: The other member states on various subjects (British entry, direct elections to Parliament, the Fouchet Plan and the budget) triggered the "empty chair" crisis , ostensibly over proposals for the Common Agricultural Policy . Although the institutional crisis was solved the following year, it cost Étienne Hirsch his presidency of Euratom and later Walter Hallstein the EEC presidency, despite his otherwise being viewed as
21080-443: The output gap will then be zero, meaning that the "cyclically-adjusted balance" then will be equal to the "government budget balance". In this way, because it is resistant to GDP growth changes, the structural balance is considered to be neutral and comparable across an entire business cycle (including both recession years and "overheated years"), making it perfect to be used consistently as a medium-term budgetary objective. Whenever
21235-509: The posts of European Commissioner for External Relations with the council's High Representative for the Common Foreign and Security Policy . This post, also a Vice-president of the Commission , would chair the Council of the European Union's foreign affairs meetings as well as the commission's external relations duties. The treaty further provides that the most recent European elections should be " taken into account " when appointing
21390-470: The presented drafts for 2025 budgets. The first "national medium-term fiscal-structural plans" guided by the new revised fiscal rules, will cover the four-year period 2025–2028, and need to be submitted by each member state by 20 September 2024. This is a timeline of how the Stability and Growth Pact evolved over time: In March 2005, the EU Council, under the pressure of France and Germany, relaxed
21545-547: The presidency in January 1977 from his role as Home Secretary of the United Kingdom's Labour government, became the first President to attend a G8 summit on behalf of the Community. Following the Jenkins Commission , Gaston Thorn 's Commission oversaw the Community's enlargement to the south, in addition to beginning work on the Single European Act . The Commission headed by Jacques Delors
21700-405: The procedural outcome hardly predictable for Member States. Another widespread criticism concerns the high democratic deficit embedded by the SGP. National policymakers are elected democratically backed up at national level, whereas the EU (in its quality of central watchdog) is only in an indirect way. The friction between the two levels is ever more perceived in periods of economic distress, when
21855-515: The publication of a 126(6) report . For transitional reasons, the regulation granted all 23 EU member states with an ongoing EDP in November 2011, a 3‑year exemption period to comply with the rule, which shall start in the year when the member state have its 2011-EDP abrogated. For example, Ireland will only be obliged to comply with the new debt brake rule in 2019, if they, as expected, manage to correct their EDP in fiscal year 2015 – with
22010-426: The quest for budgetary consolidation becomes more compelling. Scholars agree in referring the issue of democratic deficit to the lack of a more federalised institutional framework for the Eurozone economic governance. The argument goes that strongly legitimated Union institutions would avoid the need for penetrating surveillance mechanisms, as they would partially shift economic policymaking at central level. Because of
22165-635: The record" answer for live TV. Such a situation is unique in the world. As an integral part of the Directorate-General for Communication, the Spokesperson's Service, in coordination with the Executive Communication Adviser in the President's Cabinet, supports the President and Commissioners so that they can communicate effectively. On political communication matters, the chief spokesperson reports directly to
22320-510: The right, with most national parliaments holding the right in some respects. However, the Council and Parliament may request the commission to draft legislation, though the Commission does have the power to refuse to do so as it did in 2008 over transnational collective conventions. Under the Lisbon Treaty, EU citizens are also able to request the commission to legislate in an area via a petition carrying one million signatures , but this
22475-406: The rules; the EC said it was to respond to criticisms of insufficient flexibility and to make the pact more enforceable. The Ecofin agreed on a reform of the SGP. The ceilings of 3% for budget deficit and 60% for public debt were maintained, but the decision to declare a country in excessive deficit can now rely on certain parameters: the behaviour of the cyclically adjusted budget, the level of debt,
22630-399: The specific year(s) in concern. If a state is in breach at the time of the treaty's entry into force, the correction will be deemed to be sufficient if it delivers sufficiently large annual improvements to remain on a country specific predefined "adjustment path" towards the limits at a midterm horizon. Similar to the general escape clause of the SGP, a state suffering a significant recession or
22785-511: The title Stability Pact . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Stability_Pact&oldid=905921356 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Stability and Growth Pact The Stability and Growth Pact ( SGP )
22940-483: The treaties it still has to be fewer than the total number of members, thus it was proposed that the member state that does not get a Commissioner would get the post of High Representative – the so-called 26+1 formula. This guarantee (which may find its way into the next treaty amendment, probably in an accession treaty) contributed to the Irish approving the treaty in a second referendum in 2009. Lisbon also combined
23095-478: The treaty, while the main opponent against the TSCG (the United Kingdom) left the EU in January 2020. The TSCG was intended to promote the launch of a new intergovernmental economic cooperation, outside the formal framework of the EU treaties, because most (but not all) member states at the time of its creation were willing to be bound by extra commitments. Despite being an intergovernmental treaty outside
23250-458: Was adopted and entered into force on 30 April 2024, and induced the following changes to the SGP: Both eurozone and non-eurozone EU member states are subjected to a regular compliance check with the SGP deficit and debt criterion. Minimum one ordinary check per year was conducted for all member states since 1998, and minimum two ordinary checks per year for all eurozone member states since
23405-469: Was appointed despite criticism from European socialists over his hard-right affiliations. Other notable appointments included Kaja Kallas as EVP for Foreign and Security Policy, and Henna Virkkunen as EVP for Tech Sovereignty and Digital Technologies. The Commission also introduced new roles like the Commissioner for Defence and Security and the Commissioner for the Mediterranean. The commission
23560-399: Was forced by the Parliament to resign in 1999; a central role was played by Édith Cresson . These frauds were revealed by an internal auditor, Paul van Buitenen . That was the first time a College of Commissioners had been forced to resign en masse , and represented a shift of power towards the Parliament. However, the Santer Commission did carry out work on the Treaty of Amsterdam and
23715-470: Was interpreted and operationalized into a calculation formula for the MTO also to respect the so-called "Minimal Benchmark" (later referred to as "MTO Minimum Benchmark"). When assessing the annual Convergence/Stability programmes of the Member States, the Commission Staff Service checked whether the structural balance of the state complied with both the common "close to balance or surplus" criteria and
23870-529: Was seen as giving the Community a sense of direction and dynamism. Delors and his College are also considered as the " founding fathers of the euro ". The International Herald Tribune noted the work of Delors at the end of his second term in 1992: "Mr. Delors rescued the European Community from the doldrums. He arrived when Europessimism was at its worst. Although he was a little-known former French finance minister, he breathed life and hope into
24025-407: Was set up from the start to act as an independent supranational authority separate from governments; it has been described as "the only body paid to think European". The members are proposed by their member state governments, one from each. However, they are bound to act independently – free from other influences such as those governments which appointed them. This is in contrast to the Council of
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