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Published by Bruegel

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Published by: Bruegel on Oct 19, 2012
Copyright:Attribution Non-commercial

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10/31/2013

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DIRECTORATE GENERAL FOR INTERNAL POLICIES
POLICY DEPARTMENT A: ECONOMIC AND SCIENTIFIC POLICY
An Assessment of theEuropean Semester
STUDY
Abstract
 
This study assesses the European Semester’s effectiveness and legitimacy. Effectiveness is constrained by the fact that spillovers, in particular in the euroarea, are insufficiently accounted for and recommendations lack prioritisationacross countries and policy areas. Legitimacy derives from the Council vote. Weprovide evidence based on a survey sent to all 27 National Parliaments, whichare found to be active in debating central elements of the Semester and therebyproviding national legitimacy. The role of the European Parliament wasstrengthened with the Six-pack's introduction of an Economic Dialogue. Wepropose a non-binding vote by the European Parliament on the Annual GrowthSurvey and on final recommendations. For euro area countries, only MEPs of these countries should vote. Currently discussed steps towards a banking, fiscaland political union may require Treaty changes, which would provide greaterlegitimacy at the EU level.
IP/A/ECON/ST/2010-24 September 2012PE 475.121 EN

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