European legislation related to National Accounts Martin Kellaway National Accounts in Practice – Advanced course Luxembourg, 3-12 October 2016 THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION

ESA 2010 Regulation “The ESA 2010 is a regulation setting forth the rules, conventions, definitions and classifications to be applied in producing the national accounts in Member States” (ESA 2010 1.12). REGULATION (EU) No 549/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL. Annex B of the ESA Regulation is known as the Transmission Programme

ESA 2010 Regulation An unusual regulation - a specialist book that non-specialists may find difficult to understand Member States must develop expertise to do so because it is a Regulation Although adopted in 2013, implemented in September 2014 ESA95 was amended several times, possible that ESA 2010 may be also

EDP Article 126 of the EC Treaty (Maastricht, 1992, start of EMU) mentions the Excessive Deficit Procedure (EDP) A Protocol on the EDP was annexed to MT obliging Member States’ governments to avoid excessive deficit (and debt) and gave reference values as percentage of GDP

EDP Taken further in: 1993 Regulation (ESA95) 2009 Regulation – replacement 2010 Regulation – including new powers to check data after Greek problem 2014 Regulation – changing references from ESA95 to ESA 2010 Stability & Growth Pact introduced in 1997, takes EDP more seriously now that monetary union in place

Transmission Programme http://ec.europa.eu/eurostat/web/esa-2010/overview

Transmission Programme List of accounts and tables and time series required Lists start date of time series requirement Sometimes supplemented by gentlemens’ agreements (e.g. ESA Table 25)