EUROGROUP, COUNCIL OF THE EU latest news

Press material Monday, 15 July 2024

● Eurogroup   15/07/2024 16:34 | Statements and remarks | Eurogroup statement on the fiscal stance for the euro area in 2025   The conditions for a gradual acceleration of economic activity in 2024 and 2025 remain in place in the euro area. Based on the Commission spring forecast, consumption is emerging as a key driver, on the back of a further deceleration in inflation and a resilient labour market. Investment is expected to benefit from improving credit conditions and the continued deployment of the Recovery and Resilience Facility (RRF). Risks to the economic outlook remain tilted to the downside, amid a still challenging external environment. After the period of extensive fiscal support over 2020-2022, when it was overall important to address the negative consequences of major economic shocks and to protect the most vulnerable, the euro area fiscal stance turned neutral in 2023. Fiscal developments have varied across countries in recent years, in some cases leading to underlying weakening of public finances. According to the latest Commission forecast and in line with the Eurogroup’s agreement outlined last December, the fiscal stance is set to turn contractionary in 2024, also as energy support measures are being unwound. At the same time investment is expected to be preserved, contrary to developments in the aftermath of the financial crisis. In 2025, the public deficit in the euro area is projected to decline to 2.8% of GDP. Euro area public debt is projected at around 90% of GDP over 2023-2025. A gradual and sustained fiscal consolidation in the euro area continues to be necessary going forward, given the need to reduce the high levels of deficit and debt. At the same time, this should be carried out in a way that minimizes the impact on growth, while continuing to enhance productivity and to maintain or increase investment, which remains essential for a competitive, dynamic, and resilient economy. We are committed to strengthening our efforts to improve the effectiveness, quality and composition of public spending. Following the entry into force of the reformed economic governance framework on 30 April 2024, we need to ensure its swift and consistent implementation, to promote sound and sustainable public finances, sustainable and inclusive growth and resilience through reforms and investments and prevent excessive government deficits. We are currently preparing national medium-term fiscal-structural plans in line with the revised framework, building on guidance from the Commission. The plans, expected to be submitted in autumn 2024, will be assessed by the Commission and have to be endorsed by the Council. They integrate country-specific net expenditure paths with a set of reforms and investments that meet the criteria set out in the legislation. Where applicable, the plans endorsed by the Council will ensure consistency with the Excessive Deficit Procedure.  The draft budgetary plans process will continue to contribute to the coordination of economic policies within the euro area. National fiscal policies will respect the requirements of the revised framework starting with the 2025 budgets. The implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2025. This is appropriate in light of the macroeconomic outlook, the need to continue to enhance fiscal sustainability, and to support the ongoing disinflationary process. The framework allows fiscal policies to address uncertainty.  The Eurogroup will continue to closely monitor economic and fiscal developments and reinforce its policy coordination. We will review euro area budgetary policies in December, informed by the Commission opinions on the draft budgetary plans for 2025.

Press material Monday, 15 July 2024

● Eurogroup   15/07/2024 21:15 | Statements and remarks | Remarks by Paschal Donohoe following the Eurogroup meeting of 15 July 2024   Good evening, everyone. Let me just give you a quick summary of our July Eurogroup meeting. We started our meeting with our annual exchange on the euro area fiscal stance for 2025, ahead of budget preparations for next year. This year's backdrop is especially important as we now move into a revised economic governance framework. That discussion was informed by the report by the European Fiscal Board presented by Professor Niels Thygesen. It was his last meeting as chair of the European Fiscal Board, and we thanked him for all his work in recent years. We agreed on a statement on behalf of the Eurogroup in which we concur that going forward, gradual and sustained fiscal consolidation is needed in the euro area. That said, we are all very conscious that improving the quality of public spending and safeguarding investment is going to be crucial along the way, as we try to minimise any negative impact on economic growth. Our statement reaffirms our commitment to swiftly and consistently implementing the revised economic governance framework. For 2025 - the first year when the new framework is applicable - its implementation is expected to lead to a contractionary fiscal stance for the euro area overall. We’ll review where we stand on this in our December meeting. Today we also agreed our work programme for the months ahead, taking us to March of next year. Again, there's a lot of focus on our work with regard to budget coordination, capital markets, the future of our currency and competitiveness. We held an important discussion in relation to the state of convergence for those countries in the exchange rate mechanism (ERM II), and in particular on the implementation of ERM II commitments by Bulgaria. As you know, according to the institutions, Bulgaria fulfils all of the convergence criteria except for the one with regard to price stability. Bulgaria has made good progress over the last years, and we all encourage it to continue with its reform efforts towards euro adoption, which will take place once sustainable convergence with the euro area is reached. We then concluded our agenda with a discussion on euro area competitiveness. We were joined by Enrico Letta, who kicked off our discussion with a focus on the relevant elements of his report, entitled ‘Much more than a market’. Addressing the funding gap for the EU's investment needs is a real challenge. We heard a divergence of views with regard to this, but we also heard a lot of common ground and consensus. This is true in particular with regard to the need to absolutely accelerate all of our efforts with the capital markets union and the Eurogroup will play a central role in this. There was acknowledgement regarding the benefits of exploring EU level common actions to support genuine EU public goods. We are going to continue to focus on implementing the roadmap we agreed to make the capital markets union a reality. We agreed on the need to sum up these discussions when we return in September. We will aim to reach a common view on how we move this important discussion on competitiveness forward at the level of finance ministers. Today that we also welcomed two new members to the Eurogroup: Eelco Heinen, the new Dutch finance minister, and my own colleague from Dublin, Jack Chambers.

 

Meetings Monday, 15 July 2024

● Eurogroup   15/07/2024 21:20 | Meetings | Main results - Eurogroup, 15 July 2024   The Eurogroup in regular format discussed and agreed on a statement on the economic and budgetary situation in the euro area, as well as the fiscal policy stance for 2025. President Donohoe presented the Eurogroup work programme until March 2025. The Eurogroup in inclusive format heard Enrico Letta’s perspective, followed by an exchange of views, on addressing the funding gap for investments to enhance the EU's competitiveness.

Meetings Monday, 15 July 2024

● Council of the EU   15/07/2024 21:17 | Meetings | Main results - Agriculture and Fisheries Council, 15 July 2024   The Agriculture and Fisheries Council met on Monday, 15 July 2024. The Hungarian presidency presented its work programme for the coming semester, outlining its main priorities in the field of agriculture and fisheries. The Council also held a targeted discussion on ways to improve the long-term viability of rural areas, with a focus on generational renewal and demographic aspects. Additionally, ministers discussed trade-related agricultural issues and recent developments.

Press material Monday, 15 July 2024

● Council of the EU   15/07/2024 18:22 | Media advisory | Media advisory - Employment, Social Policy, Health and Consumer Affairs Council (Employment and social policy) of 16 July 2024   Indicative programme All times are approximate and subject to change Place: Europa building, Brussels Chairs: Sándor Czomba, Hungarian Minister of State for Employment Attila Fülöp, Hungarian Minister of State for Care Policy From 8.00 Arrivals (live streaming) +/- 8.50 Doorstep by Sándor Czomba (live streaming) +/- 9.30 Beginning of the Employment, Social Policy, Health and Consumer Affairs Council (Employment and social policy) Adoption of the agenda Approval of "A" items Non-legislative list European Semester 2024: Labour and skills shortages in the EU (public session) a) Contribution on the employment and social policies aspects of the country-specific recommendations: Recommendations on the economic, social, employment, structural and budgetary policies of each Member State b) Assessment of the country-specific recommendations for 2024 and implementation of the country-specific recommendations for 2023: Opinion of the Employment Committee and the Social Protection Committee Social inclusion of persons with disabilities at the EU and national level: supporting labour market (re)integration (public session) Any other business Ensuring rapid pension protection for persons who have exercised their freedom of movement within the EU (public session)   At the end of the meeting (+/- 15.00), press conference in live streaming.

Meetings Monday, 15 July 2024

● International ministerial meetings   15/07/2024 18:11 | Meetings | Main results - 15th Meeting of the EU-Jordan Association Council, 15 July 2024   The fifteenth meeting of the EU-Jordan Association Council took place in Brussels on 15 July 2024.

Press material Monday, 15 July 2024

● Council of the EU   15/07/2024 17:29 | Press release | Joint press statement – European Union and Jordan confirm ever stronger partnership at their 15th Association Council   The European Union and Jordan held the fifteenth meeting of their Association Council on 15 July 2024 in Brussels, in which they reviewed their increasingly dynamic and multifaceted partnership.  In the meeting, held in the framework of the EU-Jordan Association Agreement (in force since 2002) and the EU-Jordan Partnership Priorities for 2021-2027 adopted in June 2022, both parties recognized the importance they attach to their relationship. In this context, they noted that the geo-political landscape and protracted crises have changed drastically since the Agreement between Jordan and the EU on the Partnership Priorities. Both parties affirmed their willingness to work together towards elevating their relations to the level of a Strategic and Comprehensive Partnership. The EU and Jordan reaffirmed their commitment to uphold their democratic principles and fundamental human rights as set out in the universal declaration on human rights and in the EU-Jordan Association Agreement.  They welcomed the progress achieved in the context of Jordan's political, economic and administrative modernisation process, including recent economic and structural reforms and through the reform of Jordan’s public administration and efforts aiming at further empowering women and youth in decision-making and in public life. Both sides agreed to work together to further support capacity building in the education sector, including among other priorities, technical education and vocational training, scholarships, and addressing the educational gap caused by COVID-19. They underlined the important role that civil society organisations play in promoting human rights, socio-economic development and prosperity. At the invitation of Jordanian authorities, the EU will deploy an Election Observation Mission (EOM) to accompany the 2024 parliamentary elections in Jordan. The EU confirmed its continued commitment to assist Jordan in successfully tackling the multiple challenges in the context of increased uncertainty and geopolitical instability, as demonstrated by the new commitments made during HM King Abdullah II ibn Al Hussein’s visit to Brussels on 7 November 2023, amounting to more than €900 million in grants and loans, and by the European Commission’s recent proposal for a new Macro-Financial Assistance operation worth up to €500 million1.  The EU and Jordan also agreed to deepen cooperation in the field of economic and private sector development. In this context, the second meeting of the “EU-Jordan Investment Platform” and the organization of the first ever “EU-Jordan Business Forum” of 11 June 2024 in Amman allowed to further cement such partnership, representing another mark of EU’s efforts to support Jordan’s ambitious Economic Modernisation, fostering a green energy and digital transition, enhancing EU investments – notably through the Economic and Investment Plan –, and increasing Jordanian exports into the EU.  Both sides also confirmed their commitment to continue their mutual engagement in the justice sector, on security and counterterrorism, as well as to increase efforts to combat the smuggling of drugs and weapons targeting Jordan and neighbouring countries, with also consequences for the EU. The EU underlined its readiness to continue assisting Jordan in tackling these challenges, including through the European Peace Facility.  The meeting also allowed for an exchange of views on a number of regional crises and global challenges. Recalling the different United Nations General Assembly resolutions on Ukraine, the EU and Jordan reiterated their shared principles in line with the UN Charter of respect for international law, territorial integrity, national sovereignty and the need to solve conflicts by peaceful means. They condemned all violations of international humanitarian law and violations and abuses of human rights across all conflict areas.  The EU and Jordan will redouble efforts to reach an immediate and lasting ceasefire in Gaza that ends the war and the humanitarian catastrophe it causes without delay, and reiterate their call for the immediate and full implementation of the relevant United Nations Security Council Resolutions, and support for the US ceasefire proposal announced on 31 May 2024, as per UNSC Resolution 2735.  They welcomed the Summit held in Jordan on 11 June at the joint initiative of His Majesty King Abdullah II, His Excellency Abdel Fattah El-Sisi, President of Egypt, and His Excellency António Guterres, Secretary-General of the United Nations for a “Call for Action: Urgent Humanitarian Response for Gaza”, and the EU confirmed its readiness to leverage its instruments to support the delivery of humanitarian aid into Gaza via the Jordanian corridor. Both sides stressed the necessity to uphold International Law and to protect civilians in accordance with the universal principles of International Humanitarian Law, and rejection of any violence against civilians, and any form of individual or collective displacement, forced or otherwise, of Palestinians from the Gaza Strip and the West Bank, including East Jerusalem. The EU and Jordan also underlined the essential role of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) for providing vital services to millions of people in the region, and expressed their commitment to continue supporting the Agency to fulfil its UN mandate.  The EU and Jordan reiterated that the only path to a just, lasting and comprehensive resolution of the conflict in the Middle East is the two-state solution that ends occupation and leads to the establishment of an independent, contiguous, sovereign and viable Palestinian State, based on the lines of 4 June 1967, living side by side with the State of Israel in peace, security and mutual recognition, with East Jerusalem as its capital, in accordance with international law and UN Security Council resolutions, and agreed parameters. The EU and Jordan also reiterated the importance of upholding the historic status quo for the holy sites in Jerusalem, including with regards to the historic Hashemite Custodianship. The EU and Jordan stressed the necessity of ending the Syrian crisis through a political solution in accordance with UN Security Council Resolution 2254, preserving the unity and territorial integrity of Syria, ensuring the enduring defeat of terrorism, alleviating the humanitarian suffering of the Syrian people, and leading to conditions conducive to the voluntary, dignified, and safe return of refugees. They agreed that achieving this solution is key to regional stability. The parties discussed the implementation of the outcomes of the Amman Declaration of 1st May 2023 and Cairo Statement of 15th August 2023 encompassing the ‘Step for Step’ approach and the role of the Arab Liaison Contact Group on Syria. Recognizing Jordan’s extraordinary generosity in hosting Syrian refugees over a decade and the adverse impact of the Syria crisis on the country, the EU, which remains the first donor to the Syria response in the context of dwindling international support, reaffirmed its unabated commitment to continue supporting both refugee and host communities in the Hashemite Kingdom of Jordan and in the region, as manifested by the significant pledges mobilised by the recent Brussels VIII Conference on “Supporting the future of Syria and the region” (27 May 2024).  The Association Council was co-chaired by Josep Borrell, High Representative of the Union for Foreign Affairs and Security Policy, and by Ayman Safadi, Deputy Prime Minister and Minister of Foreign Affairs and Expatriates of Jordan, in the presence of Oliver Varhelyi, Commissioner for European Neighbourhood Policy and Enlargement Negotiations, Zeina Toukan, Minister of Planning and International Cooperation of Jordan, and representatives of EU member states. 1 The proposed financial assistance aims to help Jordan cover part of its external financing needs, support the fiscal consolidation effort and support structural reform efforts. The new operation builds on the three previous MFA programmes through which the EU has disbursed a total of €1.08 billion to Jordan since 2013. https://ec.europa.eu/commission/presscorner/detail/en/IP_24_182

Press material Monday, 15 July 2024

● Council of the EU   15/07/2024 16:16 | Press release | Extremist Israeli settlers in the occupied West Bank and East Jerusalem, as well as violent activists, blocking humanitarian aid to Gaza: five individuals and three entities sanctioned under the EU Global Human Rights Sanctions Regime   Today the Council approved additional restrictive measures against five persons and three entities under the European Union's Global Human Rights Sanctions Regime. The listed individuals and entities are responsible for serious and systematic human rights abuses against Palestinians in the West Bank, including abuse of the right of everyone to enjoy the highest attainable standard of physical and mental integrity, the right to property, the right to private and family life, to freedom of religion or belief and the right to education. Today's listings include Israeli settler Moshe Sharvit and his 'Moshe’s Farm' in the Jordan Valley. From his farm, Moshe Sharvit engaged in settler violence and threats towards Palestinian residents in shepherding communities close to his outpost in the West Bank. His physical and verbal harassment against these communities has escalated since October 2023. The Council also listed Zvi Bar Yosef and his unauthorised outpost known as 'Zvi’s Farm' in the West Bank. Zvi Bar Yosef has repeatedly attacked and committed acts of violence against Palestinians from the villages of Jibya, Kaubar (Kobar), and Umm Safa, causing severe injuries to some of them. Today’s designations also include Tzav 9, an Israeli group of violent activists founded in January 2024, regularly blocking humanitarian aid trucks delivering food, water and fuel to Gaza. Tzav 9’s actions include violent protests, attacks against food trucks and the destruction of food. Lastly, Baruch Marzel, openly calling for an ethnic cleansing of the Palestinians, Ben-Zion “Bentzi” Gopstein, founder and leader of the extremist organisation Lehava, and Isaschar Manne, founder of the unauthorised Manne Farm outpost in the South Hebron Hills, were also sanctioned today. With today’s listings, restrictive measures under the EU’s Global Human Rights Sanctions Regime now apply to 113 natural and legal persons and 31 entities from a range of countries. Those listed under the sanctions regime are subject to an asset freeze, and the provision of funds or economic resources, directly or indirectly, to them or for their benefit, is prohibited. Additionally, a travel ban to the EU applies to the natural persons listed. The relevant legal acts have been published in the Official Journal of the EU. Background On 7 December 2020, the Council established a Global Human Rights Sanctions Regime, which applies to acts such as genocide, crimes against humanity and other serious human rights violations or abuses (e.g. torture, slavery, extrajudicial killings, arbitrary arrests or detentions). The EU Global Human Rights Sanctions Regime underscores the EU’s determination to enhance its role in addressing serious human rights violations and abuses worldwide. Achieving the effective enjoyment of human rights by everyone is a strategic goal of the Union. Respect for human dignity, freedom, democracy, equality, the rule of law and human rights is a fundamental value of the Union and of its common foreign and security policy. In its conclusions of 27 June 2024, the European Council strongly condemned the ongoing extremist settler violence in the West Bank, including East Jerusalem, and invited the Council to take work forward on further restrictive measures against extremist settlers. The European Council also called for safe access to the holy sites and for the Status Quo to be upheld. Lastly, the European Council condemned the Israeli government’s decisions to further expand illegal settlements across the occupied West Bank and urged Israel to reverse these decisions. Council Decision (CFSP) 2024/1967 of 15 July 2024 amending Decision (CFSP) 2020/1999 concerning restrictive measures against serious human rights violations and abuses (including the list of sanctioned individuals and entities) Council Implementing Regulation (EU) 2024/1960 of 15 July 2024 implementing Regulation (EU) 2020/1998 concerning restrictive measures against serious human rights violations and abuses Consolidated text: Council Decision (CFSP) 2020/1999 of 7 December 2020 concerning restrictive measures against serious human rights violations and abuses (dated 19 April 2024) European Council conclusions, 27 June 2024

Press material Tuesday, 16 July 2024

● Council of the EU   16/07/2024 11:14 | Press release | Recovery fund: Council greenlights Germany’s amended plan that includes a RepowerEU chapter   The Council today approved the Commission’s positive assessment of Germany’s amended recovery and resilience plan. The amended plan now includes a new REPowerEU chapter worth €2.3 billion.  This will contribute to accelerating Germany’s transition towards clean energy by increasing the share of renewables in the German energy mix. The modified plan has a strong focus on the green transition, allocating 49.5% of the available funds to measures that support climate objectives, up from 47% in the original plan. The digital ambition of the plan remains strong with 47.5% of its funds dedicated to digital measures. The plan is now worth €30.3 billion in grants and covers 17 reforms and 28 investments. Background Germany submitted its original national recovery and resilience plan on 28 April 2021. The Council approved the Commission’s positive assessment of the plan by means of the Council implementing decision of 13 July 2021. The Council implementing decision was amended on 14 February 2023 and 8 December 2023. On 30 April 2024, Germany submitted a modified national plan, including a REPowerEU chapter. The Commission submitted a positive assessment of the plan on 27 June 2024. The RRF is the EU’s large-scale financial support programme in response to the challenges the COVID-19 pandemic has posed to the European economy. It is the centrepiece of NextGenerationEU, a temporary recovery instrument that allows the Commission to raise funds to help repair the immediate economic and social damage caused by the pandemic. To benefit from the facility, member states must submit recovery and resilience plans (RRPs) to the Commission, setting out the reforms and investments they intend to implement by the end of 2026.  Regulation (EU) 2023/435 as regards REPowerEU chapters, in force since 1 March 2023, aims to end the EU’s dependence on Russian fossil fuels by saving energy, diversifying energy supplies and accelerating the clean energy transition.  Under the REpowerEU regulation, EU countries have added specific chapters to their national RRPs in order to finance key investments and reforms which will help achieve the REPowerEU objectives.  RepowerEU increases the RRF financial envelope by €20 billion in new grants. In addition, member states are able to voluntarily transfer up to €5.4 billion from the Brexit Adjustment Reserve to the RRF to finance REPowerEU measures. This comes on top of the existing transfer possibilities of 5% from the cohesion policy funds (up to €17.9 billion). So far, €648 billion have been committed to this end. To date, all RRPs have been approved, 63 payment requests have been received and €240 billion have been disbursed. Council implementing decision approving the assessment of the recovery and resilience plan for Germany A recovery plan for Europe (background information) REPowerEU: energy policy in EU countries’ recovery and resilience plans (background information)

Meetings Tuesday, 16 July 2024

● Council of the EU   16/07/2024 16:02 | Meetings | Main results - Employment, Social Policy, Health and Consumer Affairs Council (Social, Employment), 16 July 2024   Ministers of employment and social affairs met in Brussels for a half-day Council. As part of the annual European Semester cycle, they approved the employment and social aspects of member states’ country-specific recommendations (CSRs), endorsed an opinion by EMCO and the SPC on the assessment and implementation of the CSRs, and discussed labour and skills shortages in the EU. They also held a policy debate on the social inclusion of persons with disabilities at the EU and national level.

Meetings Tuesday, 16 July 2024

● Council of the EU   16/07/2024 15:59 | Meetings | Main results - Economic and Financial Affairs Council, 16 July 2024   The Council discussed the implementation of the Recovery and Resilience Facility and approved Germany’s modified recovery and resilience plan, that includes a new REPowerEU chapter. The Council took forward work on the European Semester. It discussed the existence of excessive deficits in several member states. Ministers also discussed the economic and financial impact of Russia’s aggression against Ukraine.

Press material Tuesday, 16 July 2024

● Council of the EU   16/07/2024 12:09 | Press release | Day of International Criminal Justice: Statement by the High Representative on behalf of the European Union   17 July marks the anniversary of the adoption in 1998 of the Rome Statute, the founding treaty of the International Criminal Court (ICC), the only permanent international criminal jurisdiction with a universal vocation. The goal of the Rome Statute is to bring justice to the victims of the most serious crimes of concern to the international community as a whole by ensuring the effective prosecution of their perpetrators. On this occasion, the European Union reaffirms its unwavering support for the International Criminal Court. We are resolved to defend the integrity of the Rome Statute and the universality and independence of the Court. The European Union stands firm against any attempts to undermine the Rome Statute framework, and the broader international system of criminal justice, upon which rest the last hopes of many victims around the world. The EU calls on all States to cooperate with the ICC and supports reform processes aimed at improving the effectiveness of the Court. The European Union is a global leader in fostering transparent and accountable justice institutions, promoting independent, impartial and effective justice systems, and supporting access to justice for all. Since 2000, the European Union has supported the ICC through direct funding for outreach activities, global civil society campaigns and projects to promote the ratification of the Rome Statute, as well as through programmes aimed at improving national justice systems through training and capacity building. The EU also supports transitional justice initiatives and international justice mechanisms related to specific countries. The European Union has launched a new €21 million project entitled “Global initiative to fight against impunity for international crimes: make justice work!” to support civil society worldwide in contributing to the primacy of international law and fighting impunity for the most serious crimes. The project will also raise awareness of and build support for the Court and its mandate. The European Union will continue to engage in efforts to support civil society, lawyers, prosecutors and all courageous individuals who work in the field of international criminal justice and who seek justice for atrocity crimes. Civil society and human rights defenders play a crucial role in the denunciation of human rights violations and breaches of international humanitarian law, thus promoting accountability and justice. The European Union will continue calling for the perpetrators of the most serious crimes to be held to account and for the rights of victims to be protected. Justice must prevail.

Press material Tuesday, 16 July 2024

● Council of the EU   16/07/2024 12:00 | Press release | European Semester 2024: Council agrees on country- specific recommendations   Today, the Council agreed its country-specific recommendations on the economic, social, employment, structural and budgetary policies of each member state.  This step is part of the 2024 European Semester process, which enables member states to coordinate their economic, employment and fiscal policies.  This year the European Semester cycle will be aligned with the provisions of the EU’s reformed economic governance framework. Under the new rules, in force since 30 April, member states will prepare medium-term fiscal structural plans in the autumn, setting out their expenditure paths and their priority reforms and investments.  The country-specific recommendations provide guidance for the reform and the investment commitments member states are encouraged to include in these plans, especially if they wish to extend their fiscal adjustment period from four to seven years. Such an extended adjustment period would result into an overall lower fiscal effort per year that would be required of a member state.  Next steps The European Council will be invited to discuss the country-specific recommendations at its meeting in October 2024. After that, the Council can proceed with the formal adoption of the recommendations, which concludes the final stage of the 2024 European Semester process. Background Introduced in 2011, the European Semester enables the EU member states to coordinate their economic, fiscal and employment policies throughout the year and address the economic challenges facing the EU. The Commission presents each country with a set of draft country-specific recommendations (CSRs) on their economic, social, employment, structural and budgetary policies, providing policy guidance on how to boost jobs and growth, while maintaining sound public finances. On this basis, the Council then adopts country-specific recommendations (CSRs). It provides explanations in cases where it does not follow the Commission’s recommendations. The Council recommendations on the economic, social, employment, structural and budgetary policies of each member state can be found in the following documents: Belgium Bulgaria Czechia Denmark Germany Estonia Ireland Greece Spain France Croatia Italy Cyprus Latvia Lithuania Luxembourg Hungary Malta The Netherlands Austria Poland Portugal Romania Slovenia Slovakia Finland Sweden European Semester in 2024 (timeline) European Semester (background information)