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BROAD ECONOMIC POLICY GUIDELINES (BEPGS)

Statistics Directorate    
Definition:
The Treaty obliges the Member States to regard their economic policies as a matter of common concern and to coordinate them within the EU Council. The BEPGs constitute the main instrument of this coordination.

Context:
They contain recommendations to policy-makers on macroeconomic and structural policies and provide a yardstick for ex post assessment in the context of multilateral surveillance within the EU Council. The EU Council, acting on a recommendation from the European Commission, formulates a draft of the BEPGs and reports its findings to the European Council. The EU Council then adopts a recommendation on the BEPGs based on the European Council’s conclusions.

Source Publication:
European Central Bank, 2003, Annual Report: 2003, ECB, Frankfurt, Glossary.

Statistical Theme: Financial statistics

Created on Wednesday, July 13, 2005

Last updated on Wednesday, November 30, 2005