What is the European Semester?
The European Semester is a procedure where economic and budgetary policies in the EU are coordinated. It is part of the EU’s economic governance.
The most important part of the procedure falls on the first 6 months of the year, hence the name “semester”.
During the European Semester, Member States align their budgetary and economic policies with the objectives and principles set at EU level.
The European Semester coordinates 3 economic policy areas:
- structural reforms to promote growth and jobs in line with the Europe 2020 strategy
- fiscal policy to ensure the sustainability of public finances in line with the Stability and Growth Pact
- prevention of excessive macroeconomic imbalances.
- foster convergence and stability in the EU
- ensure stable public finances
- promote economic growth
- to prevent excessive macroeconomic imbalances in the EU
- implement the Europe 2020 strategy.