Legislation
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: