Brussels, 14/07/2015 (Agence Europe) - On Tuesday 14 July, the Council of the EU formally adopted the socio-economic policy recommendations it makes to each member state and to the eurozone, in the framework of the so-called 'European Semester' budgetary process.
These recommendations are based on the national stability and reform programmes submitted by the member states to the European Commission in April. These recommendations, which are somewhat disrespected by the capitals as they are non-binding in nature, are then discussed in the sectorial formations of the Council, up to European Council level, and are then enshrined by the Ecofin Council of July.
In general, economic policy advice at European level is based on the following triptych: maintaining a “responsible” budgetary policy, pursuing structural reforms and stability investment. The member states are invited to use these recommendations as a basis for their draft budgets for 2016, which have to be submitted to the Commission by mid-October. (Mathieu Bion)