eu4journalists

The Directorates-General

Economic and Financial Affairs DG

The Economic and Financial Affairs DG works mainly on economic policy – whereas monetary policy is the responsibility of the European Central Bank. Its major role is in monitoring the economic performance of the member states, and in that respect it publishes economic forecasts for the Union as a whole and for individual member states twice a year, in spring and autumn. It also sets broad economic policy guidelines, which member states are supposed to follow in developing national economic policies. Establishing the degree of convergence amongst member states is another responsibility of the DG, and it reports annually on the preparedness of those member states which are not yet in the euro to adopt the single currency. And in the fiscal policy arena, DG ECFIN prepares actions under the excessive deficit procedure to bring member states whose budget deficit exceeds 3% of GDP back into line.

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Spokesperson
Amadeu ALTAFAJ TARDIO
Tel : +32 (0)2 295 26 58
Mobile : +32 (0)498 952 658
amadeu.altafaj-tardio@ec.europa.eu

Related dossiers:

• Economic and Monetary Union and the Euro
• Financial Crisis