Press Release: EU fiscal governance: requirements for Member States need to be strengthened further and better monitored, say Auditors

The EU needs to further strengthen its legal requirements for national budgetary frameworks and better monitor how Member States put them into practice, according to a new report from the European Court of Auditors (ECA). In several respects the requirements are softer than international standards and the European Commission has so far only limited knowledge about whether countries apply them properly. The auditors also warn against the risk of inconsistency between the Commission’s and independent fiscal institutions’ (IFIs) assessment of countries’ compliance with EU fiscal rules, as well as of the limited effectiveness of the European Fiscal Board due to the fact that it is not fully independent from the Commission.

View the full press release. 

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