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aria-current="page"><span>Economic and fiscal governance</span></li></ol></nav><div class="ecl-page-header__info"><h1 class="ecl-page-header__title"><span>Economic and fiscal governance</span></h1></div><div class="ecl-page-header__description-container"><p class="ecl-page-header__description">The European Union鈥檚 economic governance framework aims to monitor, prevent, and correct problematic economic trends that could weaken national economies or negatively affect other EU countries. </p></div></div></div> </div> <main class="ecl-u-pb-xl" id="main-content" data-inpage-navigation-source-area="h2.ecl-u-type-heading-2, div.ecl-featured-item__heading"> <div class="ecl-container"> <div class="ecl-row"> <div class="ecl-col-s-12 ewcms-top-sidebar"> <div> <div data-drupal-messages-fallback class="hidden"></div> </div> </div> </div> <div class="ecl-row"> <div class="ecl-col-s-12"> <div id="block-ewcms-theme-main-page-content" data-inpage-navigation-source-area="h2, div.ecl-featured-item__heading" class="ecl-u-mb-l"> <article dir="ltr"> <div> <div class="navigation-lists-block"><div class="ecl-content-item-block"><div class="ecl-row"><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/eu-assessment-and-monitoring-national-economic-policies_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="EU Assessment and monitoring of national economic policies" data-level="1" >EU Assessment and monitoring of national economic policies</a></div><div class="ecl-content-block__description">This section explains how the EU monitors national economic policies, and how and when preventive and corrective measures are put in place.</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/stability-and-growth-pact/preventive-arm/national-medium-term-fiscal-structural-plans_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="National medium-term fiscal-structural plans" data-level="1" >National medium-term fiscal-structural plans</a></div><div class="ecl-content-block__description">National medium-term fiscal-structural plans (MTPs) bring together the fiscal policy, structural reforms and investments of a Member State.</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/legal-basis-stability-and-growth-pact_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="Legal basis of the Stability and Growth Pact" data-level="1" >Legal basis of the Stability and Growth Pact</a></div><div class="ecl-content-block__description">Find legislation relating to the EU's Stability and Growth Pact</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="https://commission.europa.eu/business-economy-euro/economic-and-fiscal-policy-coordination/european-semester_en" class="ecl-link ecl-link--standalone" data-untranslated-label="The European Semester" data-level="1" >The European Semester</a></div><div class="ecl-content-block__description">The European Semester is the framework for integrated surveillance and coordination of economic and employment policies across the European Union. </div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/stability-and-growth-pact_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="Stability and Growth Pact" data-level="1" >Stability and Growth Pact</a></div><div class="ecl-content-block__link-container"><ul class="ecl-content-block__link-list"><li class="ecl-content-block__link-item"><a href="/economic-and-fiscal-governance/stability-and-growth-pact/preventive-arm_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="The preventive arm" data-level="2" >The preventive arm</a></li><li class="ecl-content-block__link-item"><a href="/economic-and-fiscal-governance/stability-and-growth-pact/corrective-arm-excessive-deficit-procedure_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="The corrective arm/ Excessive Deficit Procedure" data-level="2" >The corrective arm/ Excessive Deficit Procedure</a></li><li class="ecl-content-block__link-item"><a href="/economic-and-fiscal-governance/stability-and-growth-pact/fiscal-policy-guidance_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="Fiscal policy guidance" data-level="2" >Fiscal policy guidance</a></li></ul></div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/macroeconomic-imbalance-procedure_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="Macroeconomic Imbalance Procedure" data-level="1" >Macroeconomic Imbalance Procedure</a></div><div class="ecl-content-block__description">The MIP aims to identify, prevent and address the emergence of potentially harmful macroeconomic imbalances that could adversely affect economic stability in a particular Member State, the euro area, or the EU as a whole.</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/evolution-eu-economic-governance_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="The Evolution of EU Economic Governance" data-level="1" >The Evolution of EU Economic Governance</a></div><div class="ecl-content-block__description">Economic governance in the EU has been reinforced and refined over time, evolving in the context of historical developments.</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 "><article 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class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/national-productivity-boards_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="National Productivity Boards" data-level="1" >National Productivity Boards</a></div><div class="ecl-content-block__description">National Productivity Boards are independent institutions that help to analyse economic productivity and competitiveness developments and challenges.</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 last-item-column"><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="https://commission.europa.eu/business-economy-euro/economic-and-fiscal-policy-coordination/european-fiscal-board-efb_en" class="ecl-link ecl-link--standalone" data-untranslated-label="European Fiscal Board (EFB)" data-level="1" >European Fiscal Board (EFB)</a></div><div class="ecl-content-block__description">The European Fiscal Board (EFB) is an independent advisory body of the European Commission.</div></div></article></div><div class="ecl-content-item-block__item contextual-region ecl-u-mb-l ecl-col-12 ecl-col-l-4 last-item-column"><article class="ecl-navigation-list__item ecl-navigation-list__item--no-border" ><div class="ecl-content-block ecl-navigation-list__content-block" data-ecl-auto-init="ContentBlock" data-ecl-content-block ><div class="ecl-content-block__title"data-ecl-title-link><a href="/economic-and-fiscal-governance/national-fiscal-frameworks-eu-member-states_en?prefLang=el" class="ecl-link ecl-link--standalone" data-untranslated-label="National Fiscal Frameworks 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