Two-Pack legislation
E625509
Two-Pack legislation is a set of European Union budgetary governance rules adopted after the eurozone crisis to strengthen fiscal surveillance and coordination among euro area member states.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Two-Pack legislation canonical | 2 |
Statements (40)
| Predicate | Object |
|---|---|
| instanceOf |
European Union legislative package
ⓘ
budgetary governance framework ⓘ |
| affectsPolicyArea |
economic governance
ⓘ
fiscal policy ⓘ public finance management ⓘ |
| aimsToEnsure |
better coordination of national budgetary policies
ⓘ
early detection of fiscal slippages ⓘ sustainable public finances in the euro area ⓘ |
| alsoKnownAs | Two-Pack NERFINISHED ⓘ |
| appliesToJurisdiction |
European Union
NERFINISHED
ⓘ
euro area member states ⓘ |
| basedOn | Articles of the Treaty on the Functioning of the European Union related to economic policy coordination ⓘ |
| complements |
Fiscal Compact
NERFINISHED
ⓘ
Six-Pack legislation ⓘ Stability and Growth Pact NERFINISHED ⓘ |
| establishes |
framework for post-programme surveillance
ⓘ
possibility of enhanced surveillance for vulnerable member states ⓘ |
| follows | Six-Pack legislation ⓘ |
| hasConsequence |
greater harmonisation of budgetary procedures in the euro area
ⓘ
increased ex-ante oversight of national budgets by EU institutions ⓘ |
| hasPurpose |
to enhance budgetary coordination among euro area member states
ⓘ
to prevent and correct macroeconomic imbalances and fiscal risks ⓘ to strengthen fiscal surveillance in the euro area ⓘ |
| introducedRequirement |
common budgetary timeline for euro area member states
ⓘ
enhanced reporting obligations for countries under financial assistance ⓘ independent fiscal institutions at national level ⓘ submission of draft budgetary plans to the European Commission ⓘ |
| isPartOf |
EU fiscal rules architecture
ⓘ
European economic governance framework NERFINISHED ⓘ |
| monitoredBy | European Commission NERFINISHED ⓘ |
| overseenBy | Council of the European Union NERFINISHED ⓘ |
| regulates |
enhanced surveillance of member states in financial difficulties
ⓘ
monitoring of draft budgetary plans ⓘ national budgetary processes in euro area countries ⓘ |
| requires |
medium-term budgetary planning by member states
ⓘ
use of realistic macroeconomic forecasts in national budgets ⓘ |
| strengthens |
corrective arm of the Stability and Growth Pact
ⓘ
preventive arm of the Stability and Growth Pact ⓘ |
| targets | euro area countries experiencing or threatened with serious financial difficulties ⓘ |
| wasAdoptedAfter | eurozone sovereign debt crisis ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.