The independent European Fiscal Board publishes annual report

Today, the European Fiscal Board (EFB) is publishing its third annual report. The report provides a comprehensive and independent assessment of the implementation of the Stability and Growth Pact in 2018 and will feed into the discussions in the context of the European Semester and the deepening of the Economic and Monetary Union. The Chair of the EFB, Professor Niels Thygesen, attended the College meeting on 16 October 2019 to present the report. The EFB is an independent body mandated to advise the European Commission on the overall direction of fiscal policy of the euro area and to evaluate how the EU fiscal governance framework is implemented. It was formally established in the end 2015 and began operating shortly after its members were appointed in October 2016.