Preparing for Next Steps on Better Economic Governance in the Euro Area

Abstract

The Euro Summit of 24 October 2014 concluded that “closer coordination of economic policies is essential to ensure the smooth functioning of the Economic and Monetary Union”. It called for work to continue “to develop concrete mechanisms for stronger economic policy coordination, convergence and solidarity"; and it invited the President of the European Commission, in close cooperation with the President of the Euro Summit, the President of the Eurogroup and the President of the European Central Bank, “to prepare next steps on better economic governance in the euro area.”