Member States’ ambassadors to the European Union (Coreper) did not even need to discuss the EU Council’s draft conclusions on the reform of the EU economic governance framework in order to approve it on Wednesday 8 March (see EUROPE 13135/14).
Among other things, the text validates: - the medium-term approach through the development of multi-annual national plans which will detail the budgetary targets, reforms and investments envisaged; - the possibility of extending the duration of these plans to include additional measures supporting the climate and digital transitions and strengthening military capabilities; - differentiating fiscal paths according to national debt situations; - maintaining a common supervisory framework allowing for less stringent but more automatic financial and/or reputational sanctions.
It is therefore being shared with EU finance ministers for the political green light on Tuesday 14 March.
One diplomat predicted a long discussion at the Ecofin Council.
The European Summit on 23 and 24 March should then validate the main approach of the reform before the European Commission presents, at the end of March or beginning of April, its legislative proposal to be adopted in co-decision with the European Parliament.
See the draft conclusions: https://aeur.eu/f/5ni (Original version in French by Mathieu Bion)