European Economy. 2000 Broad economic policy guidelines. Convergence report 2000. Proposal for a Council decision in accordance with Article 122(2) of the Treaty for the adoption by Greece of the single currency on 1 January 2001. Statistical annex. Number 70 2000

Abstract

The Treaty requires Member States to conduct their eco-nomic policies with a view to contributing to the achieve-ment of the objectives of the Union and in the context ofthe broad economic policy guidelines (BEPGs) (Article98). It also requires Member States to regard their eco-nomic policies as a matter of common concern and tocoordinate them within the Council (Article 99). To thisend, since the start of Stage 2 of economic and monetaryunion (1), the Council, upon a recommendation of theCommission, has adopted each year the BEPGs. At thecentre of the economic policy coordination process, theyprovide the framework for the definition of the overallpolicy objectives and orientations for the Member Statesand the Union. The BEPGs acquire an increased signifi-cance in view of the Council Report on ‘Economic policycoordination’ endorsed by the Helsinki European Counciland the Lisbon Special European Council on ‘Employ-ment, economic reform and social cohesion’, in which theEuropean Council decided that it will hold an annualspring meeting devoted to economic and social questions