Bricongne, Jean-Charles, Turrini, Alessandro, (2017), “The EU Macroeconomic Imbalance Procedure: Some impact and no sanctions”, VoxEU, 22 June
Since 2011, EU macroeconomic surveillance has aimed at preventing or correcting the type of imbalances that were responsible for the Global Crisis. Surveillance under the Macroeconomic Imbalance Procedure implies regular reports and policy recommendations monitored by the Commission, and the possible activation of economic sanctions. This column shows that, despite the procedure not having been used to its full extent so far and the sanctions stage not having been reached yet, the surveillance and recommendations have had an impact on policies in the first years of implementation.
- ECB, (2017), «The 2017 macroeconomic imbalance procedure and implementation of the 2016 country-specific recommendations», ECB, 21 March
- European Commission, (2016), «The Macroeconomic Imbalance Procedure – Rationale, Process, Application: A Compendium», European Commission Institutional Paper 039, 16 November