Strengthening of surveillance of budgetary positions and surveillance and coordination of economic policies

 The committee adopted the report by Othmar KARAS (EPP-ED, AT) amending the proposal under the cooperation procedure:

- to ensure that assessments are based on reliable statistics, the Commission should compare Member State's figures to those provided by national central banks to the European Central Bank;

- the updated stability programmes should be submitted on a biannual basis, to allow a more medium-term planning of national budgets and budgetary reforms;

- to help assess whether an adjustment programme is both sufficiently ambitious and realistic, the Commission should undertake financial auditing missions in the Member States. The expected path of the general government debt ratio should be taken into account, and the Council should be able to invite Member States to strengthen their adjustment programmes in economic 'good times' if necessary;

- medium term budgetary objectives should be reviewed at least every year and when major structural or budgetary reforms are undertaken.