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The rules on the economic coordination and governance are grounded in the European Semester, the EU's annual cycle of economic policy guidance and surveillance.

These rules were introduced through

  • the Six Pack: EU directive 2011/85 on requirements for euro area countries' budget
  • the Two Pack:
    • EU regulation 472/2013 on on the strengthening of economic and budgetary surveillance of Member States in the euro area
    • EU regulation 473/2013 on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area
  • the treaty on stability

The mechanism for the prevention and correction of macroeconomic imbalances is described in the following legal acts:

  • EU regulation 1176/2011 on the prevention and correction of macroeconomic imbalances – sketching out the excessive imbalances procedure
  • EU regulation 1174/2011 on enforcement measures to correct excessive macroeconomic imbalances in the euro area – focusing on the associated enforcement measures

Information on the legislation of the different domains can also be found in the related thematic sections: