The annual management and performance report (AMPR) is the Commission's high-level performance report on the EU budget, and part of the Commission's annual financial reporting package. The legal deadlines involved limit what we can address comprehensively in time for the annual discharge...

The Annual Management and Performance Report for the EU Budget - 2023 financial year, together with its annexes, is the European Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council of the European Union monitor the implementation of...

The Annual Management and Performance Report for the EU Budget - 2023 financial year, together with its annexes, is the European Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council of the European Union monitor the implementation of...

The year 2023 once again confirmed that European unity and solidarity are the European Union's strongest assets. We continued to stand by our partners in Ukraine and supported them in their response to Russia's brutal war and continued aggressions. To mitigate the consequences of the war and of...

The Annual Management and Performance Report for the EU Budget - 2023 financial year, together with its annexes, is the European Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council of the European Union monitor the implementation of...

The Annual Management and Performance Report for the EU Budget - 2023 financial year, together with its annexes, is the European Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council of the European Union monitor the implementation of...

The Annual Management and Performance Report for the EU Budget - 2023 financial year, together with its annexes, is the European Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council of the European Union monitor the implementation of...

The Annual Management and Performance Report for the EU Budget - 2023 financial year, together with its annexes, is the European Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council of the European Union monitor the implementation of...

Offering an overview of the budgetary situation in the European Union, this study continues an annual series of 'Outlooks' produced by the European Parliamentary Research Service (EPRS) over the past seven years. In seven chapters, the authors of the publication explain and analyse the EU budget...

EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents a new database that tracks numerical compliance with the four main rules of the Stability and Growth Pact starting in 1998. Our assessment of numerical compliance abstracts from the many exceptions and...

EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents a new database that tracks numerical compliance with the four main rules of the Stability and Growth Pact starting in 1998. Our assessment of numerical compliance abstracts from the many exceptions and...

The paper discusses the proposals of the EU Commission for the reform of the EU fiscal rules. Against the background of the devel-opment of the rules and the experience with the compliance, it becomes clear that the proposals represent a change of course. The decentral-iszed responsibility in...

Why did the Eurozone crisis prove to be so difficult to resolve? Why was it resolved in a manner in which some countries bore a much larger share of the pain than other countries? Why did no country leave the Eurozone rather than implement unprecedented austerity? Who supported and who opposed...

The annual management and performance report (AMPR) is the Commission's high-level performance report on the EU budget, and part of the Commission's annual financial reporting package. The legal deadlines involved limit what we can address comprehensively in time for the annual discharge...

The decline of “natural real interest rates” during the last three decades is a common phenomenon in all advanced economies and can be explained by a number of structural factors: the downward trend in potential growth; population ageing, which has led to higher savings rates in many...

Credibility of the revised fiscal rules will be crucial so that vulnerable countries can benefit from confidence effects. National ownership will be key in that respect and can be supported via a stronger role of independent national fiscal institutions.

Die Europäische Union wird sich für die Finanzierung des Next-Generation-EU-Programms im großen Umfang verschulden. Die Tilgung dieser Schulden soll bis in das Jahr 2058 andauern. Im Zusammenhang mit dem Eigenmittelbeschluss für die Jahre 2021 bis 2027 wurde vereinbart, neue...

In February 2020, the European Commission announced that it would present a plan for reforming the economic governance of the Eurozone, including the rules for public debt. The project was postponed by the outbreak of the corona pandemic, but now the reform is to come. There is a widespread...

Using data from a unique survey of members of parliaments in France, Germany and Italy in 2018, we estimate the effects of three dimensions on EU and euro area fiscal reform preferences: nationality, political ideology, and populism. We predict and confirm that a German populist party on the...

In the face of an unprecedented economic recession caused by the Covid-19 pandemic, the EU has set up the biggest stimulus in its history - a 750-billion-euro fund called "Next Generation EU" - to support economic recovery. This initiative is ground-breaking as it includes grants and loan...

Using data from a unique survey of members of parliaments in France, Germany and Italy in 2018, we estimate the effects of three dimensions on EU and euro area fiscal reform preferences: nationality, political ideology, and populism. We predict and confirm that a German populist party on the...

This article reveals a neglected aspect of macroeconomic indicators – their integrative power as vehicles to deepen European integration. It focusses on the euro area fiscal stance which provides guidance on the overall direction of fiscal policy in the euro area. Debtor countries, the ECB and...

The Annual Management and Performance Report for the EU Budget - Financial year 2020 together with its annexes is the Commission's main contribution to the annual discharge procedure by which the European Parliament and the Council scrutinise the implementation of the EU budget. It fulfils the...

"Fiscal federalism refers to the division or distribution of fiscal powers between different levels of government. In the context of the European Union, it provides a framework to explore the foundations and evolution of the Union's (limited) fiscal powers across different areas of EU...

Does integration advance through crises, as hinted by policy-makers such as jean Monnet or Romano Prodi? To what extent failure in responding to crises may lead to disintegration instead? Building on Historical-Institutionalist and Neofunctionalist approaches, as well as on macroeconomics this...

The long-term fiscal and economic damage of eurobonds in a rule-based fiscal architecture - as history corroborates - would be greater than the historical challenge of the coronavirus pandemic, unless there is a political union in Europe.

Following the COVID-19 outbreak in Europe this spring and subsequent measures to contain the pandemic, the European Commission drastically revised its economic and fiscal forecasts. The Summer 2020 Economic Forecast projects that the euro area economy will contract by 8.7% in 2020. The...

The COVID-19 lockdowns have brought about the need of large fiscal responses in all European countries. However, countries across Europe are differently equipped to respond to the shock due to differences in economic conditions and fiscal space. We build on the model by Berger and others (2019)...

The Eurosystem has become one of the crucial players in the market for euro area government bonds. After first substantive purchases through the Securities Market Programme (SMP) in 2010, the Eurosystem’s involvement has reached a new breadth and magnitude with the establishment of the Public...

Die Corona-Pandemie trifft die Welt mit multiplen Angebots- und Nachfrageschocks zugleich. Das gab es in dieser Breite, Heftigkeit und Schnelligkeit noch nie. Eine schnelle Rückkehr auf die vorherigen Wachstumsspuren ist in allen Weltregionen nicht zu erwarten. Im Jahr 2020 wird die globale...