COUNCIL OF THE EUROPEAN UNION,update

 

Meetings Friday, 10 July 2026

● Council of the EU

10/07/2026 13:10 | Press release | European semester 2026: Council adopts country-specific recommendations   Today, the Council adopted its recommendations on the economic, social, employment, structural and budgetary policies of each member state, part of the 2026 European semester process. This year, the country-specific recommendations (CSRs) place particular emphasis on competitiveness, energy security, economic security, defence readiness and social fairness. In that vein, member states are encouraged to advance key priorities in support of competitiveness, ensure swift implementation of cohesion policy funds and continue with reforms and investments supported under the recovery and resilience facility. Other, more fiscal recommendations focus on member states’ paths towards achieving or maintaining healthy public finances, and prudent implementation of energy-related measures within the limits of the EU’s economic governance rules. Macroeconomic imbalance procedure Also under the European semester, the Council today approved conclusions on the 2026 in-depth reviews under the macroeconomic imbalance procedure (MIP). This procedure aims to identify, prevent and address the emergence of potentially harmful macroeconomic imbalances that could adversely affect economic stability in a particular member state, the euro area, or the EU as a whole. Background Introduced in 2011, the European Semester enables the EU member states to coordinate their economic, fiscal and employment policies throughout the year in order to collectively address the economic challenges facing the EU. The Commission presents each country with a set of draft country-specific recommendations 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 and provides explanations in cases where it does not follow the Commission’s recommendations. Austria Belgium Bulgaria Croatia Cyprus Czechia Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta The Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Council explanatory note accompanying the CSRs Conclusions on the 2026 in-depth reviews under the macroeconomic imbalance procedure European semester 2026 (timeline) European semester (background information) How the European semester works (background information) Economic governance framework (background information)   Visit the website

● Council of the EU

10/07/2026 12:56 | Press release | Stability and growth pact: Council opens excessive deficit procedure for Bulgaria   The Council today opened an excessive deficit procedure (EDP) concerning Bulgaria. It also adopted a recommendation to Bulgaria outlining the net expenditure path and timeline that should be followed to put an end to its excessive deficit by 2029. The EDP mechanism is designed to ensure that EU member states return to or maintain discipline in their governments’ budgets. Procedures are launched when a member state runs a government deficit exceeding a reference value of 3% of GDP, in accordance with Article 126(3) of the Treaty on the Functioning of the European Union. The Council’s decision to open an EDP today is due to Bulgaria’s projected 2026 government deficit of 4.1% of GDP, which is expected to continue exceeding 3% of GDP in 2027. Bulgaria’s use of the national escape clause for defence spending under the stability and growth pact does not fully explain the excess above the 3% threshold. In its recommendation, the Council stipulates that Bulgaria should therefore take effective action and present by 15 October 2026 the necessary measures to reduce its deficit. Bulgaria should also ensure that its nominal cumulative net expenditure growth rate does not exceed 4.2% in 2026, 7.7% in 2027 and 11.4% in 2028 and 15% in 2029. Background Member states must comply with budgetary discipline on the basis of criteria and reference values set in the EU Treaties: their deficit should not exceed 3% of their gross domestic product (GDP) and their debt should not exceed 60% of their GDP or be declining towards it at a sufficient pace. All member states have to respect these Treaty reference values. If an excessive deficit occurs in a member state, the aim of the EDP is to prompt its correction by putting member states under enhanced scrutiny and providing recommendations for them to take effective action to correct the excessive deficit. Ultimately, the goal is to strengthen member states’ fiscal sustainability. Once it launches an EDP based on a recommendation by the Commission, the Council also makes a recommendation to the member state concerned to take effective action to bring the situation of excessive deficit to an end within a set deadline. In its recommendation, the Council requests that the member state implements a corrective net expenditure path which ensures that the general government deficit is brought and maintained below the 3% of GDP reference value within the deadline set in the recommendation. Council decision on the existence of an excessive deficit in Bulgaria Council recommendation on bringing an end to the excessive deficit in Bulgaria Excessive deficit procedure (background information) Economic governance framework (background information)   Visit the website

● Council of the EU

10/07/2026 12:36 | Press release | Recovery and resilience facility: Council greenlights new plan for Hungary   The Council today approved a new recovery and resilience plan (RRP) for Hungary. The new plan should allow for €10 billion to be disbursed to Hungary, made up of around €6.5 billion in grants and around €3.5 billion in loans. RRPs set out national reform and investment agendas in the context of the recovery and resilience facility (RRF) - the centrepiece of NextGenerationEU, the EU’s temporary instrument to facilitate and accelerate the green and digital transitions in member states, while increasing resilience, cohesion and sustainable growth. A new RRP for Hungary Today’s approval follows Hungary’s recent submission of its new plan. Delays in meeting the super milestones in Hungary’s previous plan meant that it was no longer achievable due to cost increases stemming from energy price volatility, unexpected shifts in geopolitical circumstances, unforeseen implementation challenges, delays resulting from time constraints or scheduling pressures, as well as other developments. Measures outlined in Hungary’s new national RRP aim to contribute to all RRF pillars. They will ensure the protection of the Union’s financial interests in relation to the plan’s implementation, strengthen Hungary’s anti-corruption framework, enhance transparency of public resources and public procurement, and improve the involvement of stakeholders and social partners in the legislative process. The new RRP also includes measures to strengthen judicial independence and rule of law in Hungary. As with all national plans, payments under this plan will be performance based. This means that the Commission only pays out the amounts to each country when they have achieved the agreed milestones and targets towards completing the reforms and investments included in their plan. Targeted modifications to RRPs of eight member states At the same time, the Council today approved targeted amendments to the national plans of Cyprus, Finland, Germany, Latvia, Lithuania, Luxembourg, the Netherlands and Slovenia. According to the Commission’s analysis, these modifications do not affect the relevance, effectiveness, efficiency and coherence of these member states’ overall plans. Background The RRF is the EU’s large-scale financial support programme in response to the challenges the COVID-19 pandemic  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. Reforms and investments should contribute to six key policy areas, namely: the green transition; digital transformation; smart, sustainable and inclusive growth and jobs; social and territorial cohesion; health and resilience; and policies for the next generation, including education and skills. To fully benefit from the facility, member states must fulfil all reforms and investments contained in their recovery and resilience plans by the end of August 2026. To date, more than €429 billion has been disbursed. Council implementing decision approving the assessment of the recovery and resilience plan for Hungary Council implementing decision approving the assessment of the recovery and resilience plan for Cyprus Council implementing decision approving the assessment of the recovery and resilience plan for Finland Council implementing decision approving the assessment of the recovery and resilience plan for Germany Council implementing decision approving the assessment of the recovery and resilience plan for Latvia Council implementing decision approving the assessment of the recovery and resilience plan for Lithuania Council implementing decision approving the assessment of the recovery and resilience plan for Luxembourg Council implementing decision approving the assessment of the recovery and resilience plan for the Netherlands Council implementing decision approving the assessment of the recovery and resilience plan for Slovenia A recovery plan for Europe (background information)   Visit the website

● Council of the EU   10/07/2026 10:14 | Press release | Guinea: Council restricts visa provision over insufficient cooperation   Today, the Council decided to temporarily restrict visa provision for Guinean nationals. This decision follows an assessment by the Commission, based on the member states’ input, which concludes that cooperation by Guinea on readmitting its nationals staying irregularly in the EU is insufficient. As a result of the decision adopted today, it will no longer be possible for member states to: issue multiple-entry visas to Guinean nationals waive requirements with regard to the evidence visa applicants from Guinea must submit and waive the visa fee for holders of diplomatic and service passports Furthermore, the standard processing period for visa applications will be set at 45 calendar days instead of 15. The suspension decision is temporary but does not come with a specific end date. The objective is to encourage Guinea to improve cooperation on readmission. The Commission will continue to assess any progress made. Background Under the EU visa rules, the Commission, based on member states’ input, regularly assesses how non-EU countries cooperate on readmission. These assessments may lead to the conclusion that a given non-EU country does not cooperate sufficiently. In such cases, the EU may decide to suspend the application of certain provisions of the EU short stay visa rules. The Commission proposed to the Council to temporarily restrict visa provision for Guinean nationals in July 2025. The Council has closely monitored any potential progress in readmission by Guinea when considering the proposal. Council implementing decision on visa measures regarding Guinea EU visa policy (background information)   Visit the website ● Council of the EU   10/07/2026 14:13 | Meetings | Main results - Economic and Financial Affairs Council, 10 July 2026   Among other items, ministers had a policy debate on the market integration and supervision package, a key element of the EU’s savings and investment union. The Irish presidency presented its work programme in the field of economic and financial affairs. Ministers approved the new recovery and resilience plan for Hungary under the RRF. Under the European semester, the Council approved the integrated country-specific recommendations for each member state. The Council opened an excessive deficit procedure for Bulgaria and outlined the necessary steps for the country to put an end to its excessive deficit by 2029.   View meeting page