Launching the 2016 European Semester 23 November 2015

Streamlined European Semester European Semester – 1st edition in 2011 Integrated surveillance Annual Growth Survey 2015 More focused country-specific recommendations Advanced publication of country reports Genuine dialogue with Member States October Package 2015 as follow-up to the 5 Presidents Report Better integrating the euro area and national dimension Stronger focus on employment and social performance Benchmarking and pursuing best practices Reform support through EU funds and technical assistance Effective democratic legitimacy and ownership

Revamp European Semester National Ownership: more focused and strategic National Reform Programs; greater role of National Parliaments and social partners; interact more actively at political level. Implementation: periodic reporting; benchmarking; peer review among Member States; better link to EU funds and technical assistance Integrate better the euro area dimension, analysing and highlighting euro area specific policy needs. Accountability: earlier & broader EP involvement.

Review Economic Governance Greater clarity and transparency of rules ("6- & 2- Pack"); preserving stability-oriented nature. Fuller use of the Macroeconomic Imbalances Procedure. New national Competitiveness Authorities. New advisory European Fiscal Board. Work to integrate the Fiscal Compact in EU law.

Strengthening the Social Dimension Improve social dimension of European Semester (social dialogue; role of social & employment matters in NRPs and EU analyses). Improve labour mobility, employability & skills. Support fight against long term unemployment. European Pillar of Social Rights

17 November: Assessment of Draft Budgetary Plans End of Year Budget Law European Semester – Spring EU MS medium-term fiscal and economic policy plans  Assessment of compliance with SGP rules  Macroeconomic surveillance => Policy guidance and recommendations Autumn EA MS draft budgetary plans for following year Opinion by the Commission on BE, DE, EE, FR, IE, IT, LV, LT, LU, MT, NL, AT, SI, SK, FI Overall assessment for euro area  Discussion by Eurogroup Opinion on Draft Budgetary Plans Would expected outcomes of the plan comply with fiscal recommendations? Inform the national debate National parliaments can invite COM

26 November: Annual Growth Survey 2016 Kicks off the European Semester Programmatic document setting out the main EU economic priorities for the next 12 months Building up on progress made in 2015 priority areas  

Euro area recommendations The national moment Country reports (February) and country-specific recommendations (May) The European moment Autumn package with euro area recommendations (November)

Alert Mechanism Report 2016 Part of surveillance under Macroeconomic Imbalances Procedure The AMR uses a set of indicators to screen Member States (scoreboard plus auxiliary indicators) Three employment indicators added to the scoreboard this year   Member States identified via scoreboard approach In-depth review as part of February country reports

Joint Employment Report 2016 Commission proposal Final report agreed with Council Analysis of employment situation in Europe and Member States' policy responses Economic growth and job creation are a prerequisite for preserving and restoring social fairness Important to learn from best practices in countries that successfully combine sustainable growth and fairness  

European Surveillance Cycle November Annual Growth Survey Alert Mechanism Report Autumn forecast Commission's opinions on draft budgetary plans Commission's assessment of budgetary situation of euro area Winter forecast Country Reports NEW: Commission proposals for euro area recommendations 15 April 15 October Stability/Convergence Programmes National Reform Programmes Euro Area Member States: Draft Budgetary Plans Country-Specific Recommendations Spring forecast May/June