engleski

Implementation of the European Semester in new EU member states

As a response to the economic and financial crisis, the EU has introduced new tools and legal instruments to strengthen its economic governance. The European Semester is established as a key coordination and monitoring tool within the new EU economic governance framework, which tends to provide a coherent and focused approach to the efforts of Member State’s fiscal, macroeconomic and structural reforms. By providing three main EU mechanisms - the Stability and Growth Pact (SGP), the Europe 2020 and the Macroeconomic Imbalance Procedure (MIP), the European Semester intends to ensure compliance and implementation of the EU’s economic rules by the Member States and supports at the same time their efforts in reaching the Europe 2020 targets. Within the European Semester, the Country-Specific Recommendations (CSRs) represent the most important part for delivering reforms at the national and the EU level, as they provide the Member States with guidance in budgetary and macro-structural measures. This paper briefly provides some insights into implementation experiences of the European Semester of several new EU Member States

European Semester; economic coordination; Croatia; new EU members

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