1. 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

2. ESA 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 ).
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

3. ESA 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

4. 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

5. 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

6. Transmission Programme

7. 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)