On Wednesday, March 20, the European Commission launched two consultations aiming to better anticipate the reforms undertaken by the Member States and ensure greater economic and social convergence in the EU. One consultation lays down the foundation for what could be the new "competitiveness instrument" - a series of commitments made by the Member States and the EU to better supervise national structural reforms. (Ref. 130195)
Integration. In the documents presented on Wednesday, the European Commission reminds that there is a strong link between Eurozone economies and the need for early monitoring, before the Member States start major economic or social reforms that can have an impact on their partners. The point is to avoid what is now known as “systemic” risks within the Eurozone. “This would also ensure that Member States internalize the EU-level dimension of key reforms in their national decision-making...
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